FinTech startup Money Mover has raised £1 million in investment to target the SME international money transfer market.
The cash injection has come from a group of financiers, entrepreneurs and technologists, including former Towergate CEO and stakeholder in Funding Circle, Andy Homer.
Money Mover’s online platform includes a user interface that provides SME-focused tools, reports and functionality to support existing processes and workflows. The company is hoping to tap the $5.6 trillion SME international payments market, which is still growing year-on-year.
Hamish Anderson, co-founder and CEO of Money Mover, explained: “Banks currently regard the SME market as niche and don’t properly understand their business needs. International payments are especially difficult and complex for SMEs with hidden fees, poor rates and cumbersome processes. We’re here to ditch the ‘one-size-fits-all approach’ and be the payment partner that is transparent, trusted and genuinely invested in helping their businesses grow.”
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