back Back

Lightyear partners with Currencycloud to put investors lightyears ahead

By Joy Dumasia

November 17, 2021

  • Asset Management
  • Currencycloud
  • Europe
Share

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 quickly 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 can 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 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 commented: “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 of Currencycloud, said: “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.”

Previous Article

November 17, 2021

nCino signs definitive agreement to acquire SimpleNexus

Read More
Next Article

November 17, 2021

Amazon and Visa at war in the UK over transaction fees

Read More

Wolters
ISTBML
Mambu
Financial-finergo



Advertise with us



IBSi Prime News

The Weekly Wrap

January 28, 2022

Asset Management

The Weekly Wrap: all you need to know by Friday COB | Jan 28th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

January 28, 2022

Veritran and Strands partner to offer personalized money management solutions

Read More

January 28, 2022

SCUBE Capital launches US Dollar Fixed Maturity Fund for Federal Bank clients

Read More

January 28, 2022

Capital.com appoints a new Chief of Staff to support accelerated growth

Read More

Related Reports

Sales League Table Report 2021

£1,500 / year

Know More
Applications of Artificial Intelligence In Banking 2021

£500

Know More
Global Digital Banking Vendor and Landscape Report Q4 2021

£1,500 / year

Know More
Wealth Management & Private Banking Systems Report Q4 2021

£1,500 / year

Know More
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More