Remitr
Founded Year
2016Stage
Biz Plan Competition | AliveTotal Raised
$1.01MLast Raised
$10K | 5 yrs agoMosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
-32 points in the past 30 days
About Remitr
Remitr is a company that provides banking solutions and payment services for businesses. The company offers services such as corporate credit and debit cards, international and local currency payment processing, multi-currency accounts, and spend management tools. Remitr primarily serves small and growing businesses. It was founded in 2016 and is based in Toronto, Ontario.
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Research containing Remitr
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Remitr in 1 CB Insights research brief, most recently on Apr 7, 2022.
Expert Collections containing Remitr
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Remitr is included in 3 Expert Collections, including Payments.
Payments
3,034 items
Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.
Fintech
13,413 items
Excludes US-based companies
Canadian fintech
345 items
Latest Remitr News
Aug 20, 2020
Starling, TranSwap and Remitr among first wave to sign up to Currencycloud Spark Currencycloud, the leader in providing embedded cross-border payments, today announces the wider rollout of Currencycloud Spark – its multi-currency wallet infrastructure – with Starling Bank, TranSwap and Remitr among the first customers to sign up to the service. Currencycloud Spark gives businesses – and their customers – the ability to receive, store funds and make payments in more than 30+ different currencies, almost anywhere in the world. For too long businesses around the world have faced unacceptable levels of friction when trading with each other. The difficulty in opening accounts in a foreign currency means that firms regularly run into invoicing hurdles. Payment processes are opaque, expensive and protracted. And businesses end up over-charged for needless FX transactions when they are unable to store foreign currencies. Currencycloud Spark allows Fintechs and Financial Institutions (FIs) to easily create accounts for their customers to receive, pay-out, and move money in different currencies at their convenience. Using unique International Bank Account Numbers (IBANs) that are able to be issued in 30+ currencies means that for customers, this is all done via one multi-currency wallet in their own name. The pilot programme for Currencycloud Spark was announced in 2019. Ahead of the launch, over 30 Fintechs around the world have already signed up to benefit from the functionality. Remitr Global Business Account (GBA) recently launched with the help of Currencycloud Spark. In just a few weeks, it has already received elated responses from Remitr customers who now have predictability of cash-flow and control over receivables. Remitr’s GBA empowers small businesses to get paid in multiple currencies without paying exorbitant bank fees or having to open an overseas bank account. One of their newest customers has already saved upwards of $1400 in less than two months of using GBA. Others to participate in the pilot include Starling Bank who are helping their SME customers open USD accounts and TranSwap who utilized Currencycloud Spark to power their Global Borderless Virtual Account (GBVA).
Remitr Frequently Asked Questions (FAQ)
When was Remitr founded?
Remitr was founded in 2016.
Where is Remitr's headquarters?
Remitr's headquarters is located at 439 University Avenue, Toronto.
What is Remitr's latest funding round?
Remitr's latest funding round is Biz Plan Competition.
How much did Remitr raise?
Remitr raised a total of $1.01M.
Who are the investors of Remitr?
Investors of Remitr include DMZ Small Business Challenge, Kunal Shah, OperatorVC, Laurent Nordin, Yezdi Lashkari and 11 more.
Who are Remitr's competitors?
Competitors of Remitr include Trolley, Airwallex, Plooto, Gaviti, Veem and 7 more.
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Compare Remitr to Competitors
Stripe operates as a technology company that specializes in online payment processing and financial infrastructure for Internet businesses. The company provides a suite of products that enable businesses to accept payments, manage billing and subscriptions, handle in-person transactions, and integrate various financial services into their operations. Its platform is designed to support startups, enterprises, and everything in between with scalable, API-driven solutions. Stripe was formerly known as DevPayments. It was founded in 2010 and is based in South San Francisco, California.
eVostro is a financial technology company focused on providing advanced payment services within the banking and payments industry. The company offers payment accounts for individuals and businesses, enabling global transactions with features like dedicated IBANs, multicurrency accounts, easy reporting, and near real-time global payments. eVostro primarily serves financial professionals and digital nomads seeking efficient and simplified financial processes. It was founded in 2020 and is based in Guildford, England.
Payall operates as a cross-border payment processor for banks operating in the financial technology sector. The company offers automated compliance and risk management solutions to facilitate international transactions. Payall's technology provides a global platform with accounts and special-purpose payment processing for global payments, along with payout options for recipients. It was founded in 2018 and is based in Miami Beach, Florida.
Melio develops accounts payable solutions. The company offers services that allow businesses to pay their bills, send invoices, and receive payments online, as well as make international payments and automate their bill payment process. Its accountant dashboard enables integrations, team management, easy bill capture, and more. It primarily serves the business-to-business (B2B) payments in logistics, healthcare, construction, non-profit, and retail industries. It was founded in 2018 and is based in New York, New York.
Checkbook specializes in digital payment processing within the financial technology sector. The company provides a platform for sending and receiving payments, including ACH transactions, real-time payments, and the issuance of digital and mailed checks. Checkbook's solutions cater to various sectors, including the e-commerce industry, real estate tech industry, and cloud computing industry. It was founded in 2015 and is based in San Mateo, California.
TerraPay operates as a cross-border payment network. The company simplifies the movement of money worldwide by providing direct access to global markets through a single connection. Its services primarily cater to partners seeking global financial inclusion. It was founded in 2014 and is based in London, United Kingdom.
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