London, 25 May 2022 – Verto, the leading B2B cross-border foreign exchange (FX) and payments enabler, today announced the launch of its multi-currency global account. Using Verto’s global account, businesses can conveniently receive and send payments across 190 destinations, and hold funds, in up to 51 currencies, making Verto a one-stop-shop for businesses worldwide.
Businesses often face high fees and copious paperwork when receiving foreign currencies. Verto’s new solution allows businesses to receive and collect payments seamlessly across the world using its platform, providing an effective and reliable multi-currency solution on the receiving end. The global account is a channel for businesses, regardless of where they are based, to access effective multi-currency solutions without the need for a local entity.
The new solution further enhances Verto’s commitment to providing the infrastructure that powers the world’s fastest-growing start-ups, enterprises and e-commerce merchants, allowing businesses in mature and emerging markets equal access to the global financial system. By building on Verto’s strong pay-out capabilities, Global Account permits businesses to receive transactions in up to 25 foreign and exotic currencies, convert the funds, and pay-out partners, suppliers, or employees in 51 currencies.
Verto is in the midst of tremendous growth and expansion following a $10 million in Series A funding in September 2021. The launch of Global Account marks Verto’s continued commitment to solving the fragmented landscape of cross-border payments in emerging market economies, while also serving the needs of its pan-European, US and UK based customers; to consistently ensure companies, irrespective of size and turnover, have access to the global financial system, regardless of where they are based.
“With our Global Account solutions, we now support businesses and merchants across the UK, US, Europe and emerging markets who need access to foreign account capabilities in neighbouring countries for regional and global expansion”, commented Ola Oyetayo, CEO and Co-Founder of Verto.
“Effective multi-currency solutions are imperative to supporting and driving international business across borders, especially in emerging market economies. Businesses who are often left behind and without access to the financial services industry by traditional incumbents, need to be equipped with the ability to send and receive payments flexibly, accessibly and seamlessly”, added Oyetayo.
He concluded: “That’s where Verto comes in. Our new Global Account solutions give businesses innovative multi-currency services on the receiving end, strengthening Verto’s pay-in capabilities. Now businesses can conveniently send and receive cross-border payments, hold multi-currency accounts and manage foreign exchange on a single platform. We’re proud to bridge the gap and be the fuel and infrastructure behind the fastest growing companies conquering the industry.”
Verto is a London-based B2B payments start-up that helps businesses send money to anyone, anywhere. Using a purposefully built tech infrastructure and payment rails, businesses can instantly send and receive money in over 190 countries.
Today, Verto helps 7000+ customers, from start-ups and SMEs to large corporations, converting and transferring $1.5 billion every year. Using Verto’s own liquidity and price discovery marketplace solution, new customers can convert between 51 currencies, open accounts or wallets in seconds and make payments on a single platform.