Remittance and cross-border payments platform Moneytrans raises €11 million

Remittance and cross-border payments platform Moneytrans raises €11 million

Brussels-based fintech Moneytrans has raised €11 million in a new growth equity round. The platform focuses on serving migrants and offers, “the cheapest and most convenient way to transfer money, whether it’s to support family members or to pay for services overseas.” The new capital is slated to support the deployment of a newly developed product for the neobanking sector that is specifically tailored to the remittance and working migrants market.

Founded in 2002, Moneytrans has served in excess of 10 million customers, helping them (almost) instantly send or receive money through digital mechanisms or a European retail network of 3.000+ branches that are then in turn linked to over 500.000+ payout locations in over 140 countries worldwide.

Moneytrans’ €11 million in growth equity round was led by Axio Capital and Finance&Invest Brussels.

“We look forward to expanding and scaling the reach of our products to support migrants globally and foster their financial inclusion,” commented Moneytrans CEO Jeremy de Smet.

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