3s.money, a UK startup that helps corporates accept and manage bank transfers in foreign markets, has hit a £40 million valuation on a £3 million Series B funding round led by TMT Investments.
FCA e-money licence-approved 3s.money says it has seen revenue grow by more than four times during the Covid-19 crisis as it has boosted its headcount from 15 to 40 with offices in London, Dubai, Amsterdam, Luxembourg and Riga.
The new funding will be used to continue hiring and to further expand the multi-currency business accounts with GBP, EUR and USD direct IBANs into new markets.
Ivan Zhiznevskiy, CEO, 3s.money, says: “As an operationally profitable bank challenger serving a distinct segment of the market, it was great to receive such strong and quick support from the VCs.
"We service mid-market clients from over 190 countries, supporting their high-value international payments through our extended correspondent network; a market that is dramatically underserved by both the pure online players and big merchant banks.”