West Hill portfolio company Freemarket ranked as one of the Times 100 fastest growing private companies

Freemarket is an innovative automated platform that enables small and medium sized companies to access cross-border payments and currency exchange that is traditionally offered by large banks to institutional clients.

The Company, Chaired by Rich Ricci, the former head of investment banking at Barclays, has seen stellar growth in recent years and has been ranked as the 12^th fastest growing private company in the UK. Revenues increased substantially last year whilst Freemarket’s customers were able to to receive and pay funds in over 40 different currencies across 100 countries. The company currently processes around over £350million in transactions monthly. 

Freemarket’s software and Tier 1 bank network enables the real-time movement of monies so inbound transfers and receipts are transacted quickly and currency exchange rates are optimised, for the benefit of customers who obtain pricing close to currency market rates. The company does this by creating a liquid internal market which matches buyers and sellers of currency through the netting of incoming payments. 

West Hill raised early-stage financing rounds for Freemarket in 2018 and 2019 and the Business has also raised investment from BGL Group, the owners of Comparethemarket.com.