Project_Currency_

Business and Assets Acquisition Opportunity

Project Currency

Hilco Streambank is seeking offers to acquire the business and assets of a currency exchange platform (the "Company"). The Company provides money exchange and remittance solutions to both small and large corporations across a number of sectors, and has generated £150-£170k in annual turnover in recent years.

BID DEADLINE

Friday, March 22 2019 at Noon GMT

Background

The Company was founded in 2010 as a specialist in the provision of money exchange and remittance solutions. The Company has supported over 200 clients around the world. Clients of the Company include money exchange bureaus, foreign exchange traders, travel agencies, hotels and airport currency exchanges. 

The Company offers a secure and reliable accounting system, and multi-currency point of sale and integrated accounting for a full range of money service businesses. The Company's foreign exchange software combines a prudent approach to compliance with an automated system, allowing money service businesses to maintain adequate records. The Company's enterprise level money transfer software offers the convenience of cross-border payments. The Company works closely with customers to best suit their business needs, no matter what the size. 

Opportunity

The market of international money transfer ("remittances") has grown considerably in recent years. The World Bank's Migration and Development Brief estimated global remittances of 2018 reached a record breaking $700 billion. An acquisition of the business and assets of the Company provides an opportunity for a buyer to expand within or enter into a growing market, where the Company is already well positioned. 

Available Assets

Brand

The brand is well established in the money exchange and remittance market. The brand has experienced traction in the UK with sizeable monthly views generated by the Company's website. The Company has invested into SEO and as a result the Company maintains a high Google ranking.

Software

Money Transfer Software for Domestic & International Transfers

The Company is in possession of an innovative money transfer platform that offers the convenience of cross-border payments. The software is fully compliant with EU and FSA regulations and is approved by Skatteverket, the Swedish Tax Agency. 

Money Exchange Software

The Company is in possession of enterprise level software for money exchange businesses that offers secure online branch connectivity, compliance, accounts and other add-ons. The software is fully compliant with EU and FSA regulations and is approved by Skatteverket, the Swedish Tax Agency. 

Interested parties should be aware that there are uncertainties regarding the ownership of the Company's software assets and therefore additional costs/license arrangements may be required post-sale in order for a buyer to utilise such assets.

Domain

The Company's branded domain name. 

Social Media Assets

Twitter, YouTube

Fixed Assets

Including servers, computers and mobile phones. 

Interested Parties

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