UK fintech Atlantic Money has launched a desktop version of its fixed fee currency transfer app, following a milestone of over £400 million in total volume since its debut in July 2022.
Founded by two early employees of Robinhood, Atlantic Money emerged from stealth mode in March 2022 with the aim of competing against established players like Wise by offering a more cost-effective solution for larger transactions.
Atlantic Money addresses the concern that Wise’s fixed percentage rates impose progressive fees that can burden customers with unnecessary costs. To counter this, Atlantic Money provides the live mid-market currency rate along with a flat fee of £3 for transfers up to £1 million.
Currently, the company operates in 32 countries and serves 10,000 customers, with an average annual transfer volume of £31,700—three times higher than that of Wise.
Commenting on the launch of the desktop platform, Neeraj Baid, CEO and co-founder of Atlantic Money, stated, “While our slick mobile app provides an incredibly easy transfer experience for our users, the powerful new web platform positions Atlantic Money to better serve our customers’ high-volume transaction needs—from freelancers and expatriates moving larger sums overseas to businesses requiring robust high-volume transfer management capabilities.”