Peer-to-peer currency exchange platform WeSwap can now be used in ANY currency, anywhere in the world – marking the latest launch in a series of 2018 rollouts that help travellers get the most out of their holiday money.
Today's announcement comes at a time where the nation is planning to spend - on average - £821 per person on their trips abroad in 2018, up from £726 per person in 2017 (WeSwap’s nationally representative 2018 Travel Index).
As well as being able to swap into any of WeSwap’s existing currencies, users’ home balance can now be used to spend anywhere in the world and converted instantly. WeSwappers can either load in pounds and go, or swap in advance to get even better rates.
Within less a week since launch, customers have used their WeSwap cards in over 40 new countries including Argentina, Costa Rica, Cambodia, Hong Kong and Vietnam.
The global currencies feature follows the launch of WeSwap’s rate tracker, which allows users to see live rates for any swappable currency and how it has been performing in the last 30 days to inform the best time to swap.
Also in development is WeSwap’s budget planner tool – the first of its kind leveraged on personalised, community-sourced data – as well as a corporate tool to make travel expenses easier to manage for individuals, and saving overseas more accessible for businesses of any size.
These new features support the company’s bid to dominate the travel money market and become the world’s leading travel money companion.
WeSwap CEO and Founder Jared Jesner comments:
“We’re extremely proud and excited to be able to support travellers on even more adventures abroad with this release. We’re building WeSwap to make spending money on holiday better for everyone, and this is just one of a range of new features we’re looking at this year which will help everyone spend smarter when they explore the unknown. We can’t wait to hear what our community gets up to with this latest update.”
Awarded Best Travel Money Provider at the 2018 British Bank Awards, the world’s first p2p currency exchange platform has displayed exponential growth figures, with an £8m series B round soon to conclude in 2018 and £130m in currency traded since 2015. Equipped with an impressive arsenal of global industry firsts, the North London start-up services nearly 400,000 users worldwide, and recently concluded a landmark crowdfunding drive that saw the largest subscription uptake (3,500 WeSwap users) for any UK crowdfunding campaign to date. The company is an excellent example, not only of the benchmark innovation the UK’s fintech sector has to offer, but also of how a strategic combination of debt, equity and private investment - when timed efficiently - can result in a truly outstanding SME growth story.
Having recently submitted for the knowledge intensive classification for EIS funding, the £8m currently being raised as part of the company’s series B will contribute towards WeSwap’s upcoming product launches and expansion into the Asian market.
Interviews with WeSwap CEO and Founder Jared Jesner and Chief Product Officer Aadeel Peerally are available on request.