UK-based money transfer brand, Imperial FX are set to announce a £50 million investment from a European company in the next few weeks.
The investment comes after Imperial FX invested over £2 million into their own money transfer technology, rather than relying on third-party systems.
“Thanks to our bespoke system we can offer unrivalled security. Unlike our competitors who use third party platforms to transfer money, we’ve built our own system that is more secure and agile”, comments CEO Ali Alani.
While Imperial FX is currently a well-known high street money transfer brand with competitors such as Western Union, where cash is king, the brand is looking to utilise the investment to launch their online platform within the coming weeks.
“Remittance is only going to get bigger”, comments Alani, “and we are going to see more traditional fx brands moving online because of the growing international migration.”
“Forrester Research estimates that the total peer-to-peer payments market will reach $17 billion in transaction volume by 2019, and our business model not only offers a competitive rate for customers but also opens the floor for other businesses looking to join the industry.”
“Our Imperial FX technology helps to lower the entry barrier for those companies wishing to move into remittances, as this substantial investment will allow us to offer a white label service.”
With a recent move to London’s Baker Street, the brand is well-aware that having a bricks and mortar location is still a key part of the customer’s decision when using a business.
“Despite the ease of online payments we are under no illusion that our brand also needs to have a human element, which is why our move to the prestigious Baker Street location has been vital to improving the brand’s identity with consumers,” comments Alani.
Imperial FX currently only offers transactions through their high-street branches, but with this £50 million investment it will soon rival those online as well as offline.
After merging with Brazilian brand BR Money in 2015, Imperial FX have quickly become recognised for their competitive rates to the Middle East and South America, but with this £50 million investment the brand will soon rival those internationally online as well as offline.