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The Money Cloud
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The Money Cloud is a form of price comparison site that compares currency rates, fees of money transfer companies. Users of this service can compare different players in the foreign exchange market, such as banks, money transfer operators (such as Western Union, Moneygram), peer-to-peer online companies (Transferwise, Xendpay, Azimo), FX brokers, payment services and travel money firms. The Money Cloud is operating in the emerging FinTech sector, which named as challenger to traditional banking system. The industry attracted $1 billion investments in 2015 alone, from companies like Sequoia Capital, Accel Partners, Greycroft Partners, Andreessen Horowitz. The Money Cloud is a member of London-based industry body for Fintech, Innovate Finance. According to Forbes, the company is close to completing a raising of over £500,000. |
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