Atlantic Money launches its cheap foreign exchange service across Europe
Fintech startup Atlantic Money is rolling out its international money transfer service to more markets and more platforms. The company originally started in the U.K. with GBP as the base currency and nine different currencies on the recipient’s side.
Since then, the company has expanded and is now live across 29 European countries. Users can convert EUR through Atlantic Money and send money to a foreign bank account.
What makes Atlantic Money stand out from the competition is that it focuses on a flat fee. The company usually doesn’t add any markup on the exchange rate and charges £3 or €3 per transfer, whether you are sending €100, €5,000 or €500,000.
In addition to the new corridors, Atlantic Money is also launching its mobile app on Android. The company also plans to launch a web app in the future. The startup previously raised money from Ribbit Capital, Index Ventures, Kleiner Perkins, 20VC, Amplo and Elefund and is regulated as a payment institution in Belgium and the U.K.
Of course, there are some limitations when you compare the product from well-known…