Member Article

Yorkshire-based foreign exchange company invests £2 million in new software platform

A Yorkshire based foreign exchange company has invested more than £2million into the design and development of a software platform, which it predicts will change the way that small to medium sized businesses manage their international currency.

The company projects that it will turnover more than £200 million within the next twelve months.

4X Currency Corporation has worked on the 4X DealerTM software platform for the last six years. It relies on live dealing rates that are streamed to the site, which can be accessed without registering or committing to a single transaction.

4X DealerTM shows the net amount that a client will pay at any given time.

With 27 years’ experience of working in the financial service sector, including roles within London and Tokyo, managing director of 4X Currency Corporation, Helen Scott said: “We wanted to develop a system that would support small and medium sized businesses and provide them with fair and transparent exchange rates.

“It is time that a more honest approach was taken to foreign exchange and we know that with our transparent system customers can make informed decisions, which allow them to be sure of their costs, as well as the savings that they will make.

“It also allows these smaller businesses to be more competitive against larger organisations that secure better rates from the banks as a result of size and spend.”

“With budget announcements from the Chancellor encouraging export with Europe and the rest of the world we know that companies will be considering their options in relation to exchange and we want them to know that we are here to offer a secure and competitive alternative to the banks.”

Backed by Finance Yorkshire, 4X Currency Corporation secured an Equity Linked Investment of £310,000 last year, which will be used to launch a dedicated marketing campaign that will take the trading and payment solution to new domestic customers, while also supporting the longer term sustainability of the company and its business model.

This was posted in Bdaily's Members' News section by Clare Burnett .