Ribbit has led a £13m Series A investment into Outpost to scale its cross-border compliance and payments infrastructure.
"Brexit, shifting tariffs, and regulatory fragmentation have made cross-border commerce more hostile than at any point in the last two decades. Merchants are forced to choose between spending millions on consultants and local entity setup, or carrying enormous risk on payments and compliance. Outpost exists to eliminate that trade-off. We’ve built the only infrastructure that handles everything from local payment processing to full tax liability, allowing companies to treat international expansion with the same ease as selling locally."
Union Square Ventures led the round, with participation from Ribbit Capital and Slow Ventures.
"We believe that money should work the same way everything else on the internet works – that it should be easy to use, it should be fast, and it should be global,"
The round was led by Balderton Capital and Lakestar with backing from a broad syndicate of funds and angel investors.
"We started an energy company because it can solve two of the world’s greatest problems: rising energy prices and climate change. While at Revolut, we saw how ageing incumbents and broken business models held the system back and how modern technology and an open-minded approach helped consumers worldwide. The energy industry plays a fundamental role in people’s lives yet regularly leaves customers dissatisfied. It is ripe for disruption in the same way as the banking sector was."
The round was led by Amplo and Ribbit Capital to support the platform launch.
"Unlike our competitors, we are not subsidising costs associated with products and services that our customers have little interest in. It’s a simple pitch – with Atlantic Money all transfers up to £1,000,000 receive the live mid-market currency rate for a flat fixed-fee of £3, delivering savings of up to 99% versus all our competitors."
