multifi & Currencycloud boost international payments for UK SMBs
By Gloria Methri
UK-based startup multifi has partnered with Currencycloud, the expert in simplifying international business transactions across multiple currencies. The collaboration aims to provide small and medium-sized businesses (SMBs) in the UK with an enriched international payment solution, empowering them to streamline their global financial operations.
The partnership enhances multifi’s offering by providing an efficient international foreign exchange payment solution for SMB clients. The solution allows SMBs to make local payouts to more than 180 countries, offering them a comprehensive suite of local payment options and competitive FX rates when paying their suppliers.
This newfound flexibility empowers SMBs to access credit from multifi and execute payments in multiple currencies as needed. The multifi platform ensures the transfer of funds to SMBs’ global suppliers at competitive FX rates.
Rob Keown-Boyd, CEO of multifi, expressed, “We are dedicated to fueling the growth of our SMB customers by simplifying access to business finance and aiding them in managing their cash flow. Our SMB clients have shown a strong demand for a seamless, swift, and cost-effective international payment solution. Hence, we sought the ideal partner to make this a reality. Currencycloud’s comprehensive suite of services has enabled us to offer an exceptional solution to our clients, the majority of whom are importers or exporters. They now have a convenient and cost-effective method for handling their international business transactions.”
Aleks Stefanofski, Chief Strategy Officer at Currencycloud, commented, “Currencycloud is on a mission to redefine the way money moves globally, making cross-border payments as effortless as local ones for businesses of all sizes. We are thrilled that multifi has chosen us to support them in achieving their goal of fueling growth for their SMB clients, who are increasingly engaging in international business transactions in an ever-expanding global marketplace.”
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