Crosspay’s mission is to make international money transfers simple and cheap. Within 3 years the company has powered over 50,000 transactions at competitive rates and this year it has been invited to partner on an Innovate UK project to continue pioneering. Crosspay generated a profit in Q3 2020 and is now aiming to scale.
“Expensive, frustrating and slow” is often what it’s like to send money internationally today. Crosspay was founded with a mission to make remittance simpler and cheaper.
In 2017 we built our own proprietary system to power international transfers at a fraction of the cost. We launched our beta website and app in 2018 and have since powered over 50,000 transactions across 50 countries with a cumulative value of approx £32,350,000, and we’re rated “Excellent” on Trustpilot.
Every year there is more than $200bn in global remittance, yet more than 70% of the market is served by traditional over-the-counter (OTC) services. These companies pass on their higher operating costs to end-customers.
This has opened up three more opportunities for Crosspay:
- This year we launched a B2B whitelabelled solution, to offer traditional businesses lower costs and higher margins.
- We’ve developed a payment marketplace for charities, empowering their members to donate irrespective of their geography.
- We’ve created whitelabelled apps for charities and churches to host content, broadcast live and receive donations simultaneously.
We turned a profit in 3Q20* and have been invited to partner on an Innovate UK project. We are focussed on scaling the 4 areas of our business and ask you to join us.
*Based on management accounts. £370k revenue, £4k Profit between Oct 19 - Sept 20.