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NEW INVESTMENT PLATFORM LIGHTYEAR PARTNERS WITH CURRENCYCLOUD TO PUT INVESTORS LIGHT YEARS AHEAD

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Currencycloud
NEW INVESTMENT PLATFORM LIGHTYEAR PARTNERS WITH CURRENCYCLOUD TO PUT INVESTORS LIGHT YEARS AHEAD

London-based Fintech start-up Lightyear has partnered with Currencycloud, the experts simplifying business in a multi-currency world, to achieve their goal of removing hidden fees when investing globally. This partnership will allow Lightyear to open up international markets and offer their customers GBP, USD and EUR accounts so they can easily deposit, hold and invest in multiple currencies without paying hidden fees.

As veterans of Wise (previously TransferWise), which eradicated hidden fees from remittances, Lightyear founders Mihkel Aamer and Martin Sokk are looking to do the same for global investing. By integrating Currencycloud, Lightyear is able to offer a simple way for European investors to invest in different markets through the investment app using different currencies.

Currencycloud will allow Lightyear’s customers to manage multiple currencies from within their account, meaning they can buy and sell through the app and convert currencies when it suits them, rather than incurring hidden fees associated with moving money across borders at point of sale or purchase.

Offering a fee-free service to allow people in the UK to invest in US markets, the pair are looking to build a scalable platform and plans to expand across Europe in the first half of next year.

Lightyear CEO and Co-founder Martin Sokk says of the partnership, “At Lightyear, we’re on a mission to remove ambiguity in the investment world and put an end to the unjustifiable fees levied at retail investors. Our multi-currency offering is at the heart of our business; it allows us to remove the friction of foreign exchange fees when investing in global stocks. Our partnership with Currencycloud means our European customers will be able to invest freely without complexities when dealing with multiple currencies and global exchanges.”

Nick Cheetham, Chief Revenue Officer Currencycloud commented, “Wealthtech companies are on a mission to revolutionize investing for investors of all stripes. Lightyear are true innovators in the field who now have a cross-border solution embedded in their offer: opening up global markets to even first-time European investors. We look forward to being part of their journey of simplifying investing for people as they build a scalable platform and grow.”

Currencycloud is incorporated in Lightyear’s investment app, which is available to customers in the UK today.

 

 

ABOUT LIGHTYEAR

Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers or fees. Founded in October 2020 by Martin Sokk and Mihkel Aamer, both early Wise (formerly TransferWise) employees, Lightyear has offices in London, UK and Tallinn, Estonia. The company is an appointed representative of RiskSave Technologies Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN 775330). The company has raised $10 million to date and is backed by Mosaic Ventures, Metaplanet, Taavet Hinrikus, the co-founder of Wise and Sten Tamkivi, founder of Teleport. Other investors include early Monzo backer and HM Treasury Special Envoy for Fintech Eileen Burbidge MBE, Robinhood UK’s Wander Rutgers, Ott Kaukver of checkout.com and Kaarel Kotkas, the founder of Veriff.

ABOUT CURRENCYCLOUD

Banks, Fintechs and businesses everywhere can make bigger, better, bolder leaps with Currencycloud. Currencycloud gives businesses the capability to move money across borders, and transact globally in multiple currencies, fast. Experts at what they do, their technology makes it easy for clients to embrace digital wallets, and to embed finance into the core of their business – no matter what industry they’re in. Since 2012, Currencycloud has processed more than $100bn to over 180 countries, working with banks, financial institutions and Fintechs around the world, including Starling Bank, Revolut, Penta and Lunar. Based in London with offices in New York, Amsterdam, Cardiff, and Singapore, Currencycloud works with partners including Visa, Dwolla, GPS and Mambu to deliver simple, clear cross-border infrastructure solutions for clients. They are regulated in the UK, Canada, US and the EU.

Notes to editors
Contact:
Currencycloud: Matt Rowntree [email protected]
Lightyear: Tessa Bryant [email protected]

https://bit.ly/3nlPZ28

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