LONDON–(BUSINESS WIRE)–Verto, the leading foreign exchange (FX) and B2B cross-border payments tool, today announced the launch of its Global Multi-Currency Account. With Verto’s Global Account, businesses can easily receive and send payments to 190 destinations and hold funds in up to 51 currencies, making Verto a one-stop-shop for businesses around the world.
Businesses often have to deal with high fees and extensive paperwork when receiving foreign currency. Verto’s new solution enables businesses to seamlessly receive and collect payments across the globe using its platform, providing an efficient and reliable multi-currency solution to the recipient. The global account is a channel for companies, regardless of their location, to access effective multi-currency solutions without the need for a local entity.
The new solution further reinforces Verto’s commitment to providing the infrastructure that powers the world’s fastest growing e-commerce start-ups, enterprises and merchants, enabling businesses in mature and emerging markets equal access to the global financial system. Leveraging Verto’s strong payment capabilities, Global Account enables businesses to receive transactions in up to 25 foreign and exotic currencies, convert funds, and pay out partners, vendors, or employees in 51 currencies. .
Verto is growing and expanding following a $10 million Series A funding round in September 2021. The launch of Global Account marks Verto’s continued commitment to solving the fragmented landscape of cross-border payments in developing economies. emerging markets, while also serving the needs of its pan-European, US and UK customers; guarantee companies, whatever their size and turnover, permanent access to the global financial system, regardless of their location.
“Through our global account solutions, we now support businesses and merchants in the UK, US, Europe and emerging markets who need to access overseas account capabilities in neighboring countries to regional and global expansion.“, commented Ola Oyetayo, CEO and co-founder of Verto. “Effective multi-currency solutions are imperative to support and boost international business across borders, especially in emerging market economies. Businesses that are often left behind and without access to the financial services industry by traditional incumbents must be equipped with the ability to send and receive payments in a flexible, accessible and transparent manner,” added Oyetayo.
He concluded : “That’s where Verto comes in. Our new Global Account solutions provide businesses with innovative multi-currency services on the receive side, further enhancing Verto’s payment capabilities. Now businesses can easily send and receive cross-border payments, hold multi-currency accounts, and manage foreign exchange transactions all in one platform. We pride ourselves on bridging the gap and being the fuel and infrastructure behind the fastest growing companies taking over the industry.
Verto is a London-based B2B payments startup that helps businesses send money to anyone, anywhere. Using technology infrastructure and purpose-built payment rails, businesses can instantly send and receive money in over 190 countries. Today, Verto helps over 7,000 clients, from start-ups and SMEs to large enterprises, converting and moving $1.5 billion every year. Using Verto’s own liquidity market and price discovery solution, new clients can convert between 51 currencies, open accounts or wallets in seconds, and make payments on a single platform.