- New feature allows instant conversion to any WeSwap currency from any country
- Already being used in over 40 new countries just one week after launch
London-headquartered money transfers company WeSwap, the world’s first person-to-person currency exchange for people who are travelling, has announced that its platform can now be used with any currency, anywhere in the world – courtesy of a new global currencies feature.
The move is the latest of several new rollouts WeSwap has launched this year, each of them designed to help vacationers get the most out of their holiday money.
In January, it introduced rate tracking tools to its apps, allowing travellers to check live exchange rates for any swappable currency, see how they’ve been performing over the previous 30 days, and manage their WeSwap card accordingly to choose the optimal time to swap.
Simultaneously, it launched another new feature in the app: My Card was designed to help people who’d forgotten their PIN or who thought they’d lost their card. It allows users to get a recap of their PIN via SMS, activate new cards, block lost or stolen cards and unblock them if they have simply been temporarily mislaid.
Now with the new extension to the service, users can not only exchange into any of WeSwap’s existing repertoire of currencies, but they can also use their home balance to spend (with instant conversion) wherever they happen to be in the world. Users have the option of loading in GBP and set off on their journeys, or exchange currencies in advance to get the best rates.
Less than a week after the launch of the new capability, WeSwap users have been using their WeSwap cards in more than 40 new countries, including Vietnam, Hong Kong, Cambodia, Costa Rica and Argentina.
In the pipeline is a new budget planner tool which harvests personalised, community-sourced data, and a forthcoming corporate tool designed to make travelling costs easier to manage for individual users. It will also make saving overseas easier to access for businesses of all sizes.
Commenting on the latest development, the company’s founder and CEO Jared Jesner said: “We’re extremely proud and excited to be able to support travellers on even more adventures abroad with this release. We’re building WeSwap to make spending money on holiday better for everyone, and this is just one of a range of new features we’re looking at this year which will help everyone spend smarter when they explore the unknown.”
Boasting a glittering list of global industry firsts, the North London fintech disrupter now services almost 400,000 users worldwide. A recent landmark crowdfunding drive saw the firm enjoy its biggest subscription uptake ever, with 3,500 new WeSwap users coming aboard. This is the largest new user uptake for any British crowdfunding campaign to date.
As this goes to press, the company has just applied for the knowledge-intensive Enterprise Investment Scheme (EIS) funding and is also planning to raise £8m as part of its Series B funding for forthcoming product launches as well as expansion into the Asian market.
