UK fintech Atlantic Money has launched a desktop version of its fixed fee currency transfer app after hitting £400M+ in total volume since its July 2022 go-live.
Founded by two early employees of Robinhood, Atlantic Money moved out of stealth in March 2022 with a promise to take on the likes of Wise with a cheaper offering for larger value transactions.
Atlantic Money's pitch is that the fixed percentage rates charged by Wise penalise customers with progressive fees for costs that do not exist. The company corrects the imbalance by offering the live mid-market currency rate and a flat fixed-fee of £3 for transfers up to £1 million.
The company is now active in 32 countries and counts 10,000 customers whose average annual transfer volume of £31,700 is 3x times higher than that of Wise.
Speaking of the company's arrival on the desktop, Neeraj Baid, CEO and co-founder of Atlantic Money, says: "While our slick mobile app provides an incredibly easy transfer experience for our users, the powerful new web platform positions Atlantic Money to better serve our customers’ high-volume transaction needs-from freelancers and expatriates moving larger sums overseas, all the way to businesses requiring robust high-volume transfer management capabilities."