Fintech Founded by ex-Robinhood Employees Gains Payments Licence in Europe

Atlantic Money, the London-based currency transfer startup challenging Wise and Revolut, has secured a licence with the bank of Belgium to operate in Europe and access all 30 EU and EEA member states.

Founded by two former RobinHood employees, the company started onboarding UK-based customers last week and will roll out across Europe during the course of the year.

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"In addition to our European licence, we also started rolling out our product to the customers in the UK who signed up for early access,"Neeraj Baid, co-founder, Atlantic Money, said."Encouraged by feedback from our customers, we are excited to launch what we believe to be the best money transfer system on the market for frequent, higher value senders in the EU."

"We are delighted to receive our licence in Europe so soon after receiving our FCA licence in the UK. Combined, the UK and Europe constitute the largest currency corridor in the world, and we are excited to have the opportunity to launch our service across Europe,"said Patrick Kavanagh, co-founder, Atlantic Money.

To date, Atlantic Money has raised $4.5m (£3.6m) in seed funding.

Source: Finextra