Atlantic Money secures £2.5m seed investment led by Amplo to fund international growth.
Amplo led the seed round as the cross-border money transfer provider opened its platform to all UK users.
Atlantic Money operates a low-cost international money transfer service enabling users to move funds across borders through its mobile application. The company provides transparent pricing with a fixed fee and zero foreign exchange mark-up.
Atlantic Money has secured £2.5m in seed investment to support its international expansion following the launch of its service in the UK. The round was led by Amplo, with participation from Nordstar and Martell Hardenberg, adding to previous funding from backers such as Index Ventures, Ribbit, and Kleiner Perkins.
The capital arrives as the firm opens its platform to all users in the UK via its iOS application, offering large cross-border transfers with a flat £3 fee and no foreign exchange mark-up. The company intends to use the funds to scale operations and prepare for an upcoming expansion into the European Union.
From the founder
"The previous generation of challengers like Revolut and Wise disrupted the banks, bringing better technology and lower fees. But they have since lost focus and abandoned the very product that made them great in a quest to build the next ‘super app’. We are disassembling this approach by being laser-focused on doing one thing better than anyone else – getting people’s money from one currency and country to another, as efficiently as possible. We are grateful to our current and new investors for their continued support and excited to provide our UK customers with a best-in-class customer experience and unmatched cost savings."
Patrick Kavanagh
Co-Founder at Atlantic Money
Use of funds
- 01Expand into international markets
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About the company
Atlantic Money
Atlantic Money provides low-cost international money transfer services for retail customers.