A Canadian start up is looking to offer businesses and individuals with a convenient and low cost international money transfer solution. Transfers are available in 40 currencies and can be completed in less than 30 seconds. They are charging a straight forward fee of 1% of the total transaction amount with no additional wire fees.

International money transfers can be costly and time consuming. Banks lack transparency and hide fees of up to 5% in the exchange rate that are added to the upfront wire fees. The transfers themselves can take up to 25-60 minutes. This approach has led to an opportunity opening up to provide businesses and individuals with a more affordable and convenient alternative.