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FreemarketFX launches crowdfunding campaign on VentureFounders

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VentureFounders, the UK-based equity crowdfunding platform, has launched a GBP500,000 crowdfunding campaign for freemarketFX, the peer-to-peer currency exchange, focused on the high-value B2B commercial spot FX market.  

The innovative FX exchange platform reduces currency exchange costs to users up to 75 per cent by matching companies and individuals directly with their peers for a fixed commission charge of 0.2 per cent, thereby removing intermediaries and cutting out the financial and operating costs common to many traditional bank and FX broker models.
 
freemarketFX operates ‘scheduled exchanges’ to execute transfers at set times, rather than on an individual basis, to reduce operation costs and allow complete fulfillment of customer instructions. As the currency instructions are pre-funded, it allows settlements to occur in minimal time with total transparency and uniform pricing.
 
The company has sourced approximately GBP250,000 of commitments from a number of investors including existing stakeholders. VentureFounders is supporting the company with a GBP250,000 raise.
 
Commenting, James Codling and Paul Moravek, co-founder of VentureFounders, says: “We work with ambitious and entrepreneurial companies like freemarketFX that have strong business acumen and growth potential. The highly competitive FinTech market means that organic growth, coupled with securing meaningful capital, can be an intensive process for early stage businesses.
 
“freemarketFX is unique in its market and crowdfunding capital will allow them to leverage their first mover advantage in the commercial spot FX market.”
 
Alex Hunn, chief executive of FreemarketFX, says: “Crowdfunding enables us to independently find and achieve buy-in from investors, and allows our most supportive customers to have a long-term stake in the business.
 
“freemarketFX and VentureFounders’ business models align particularly well. We aggregate currency and VentureFounders aggregate investors – both drive efficiencies and scale via an online platform to benefit all parties. VentureFounders is also selective with the potential opportunities it is prepared to promote to its investor community, which gave us the confidence that we would raise meaningful capital on the platform with investors that understand our business.” 

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