E-Money Markets, a new white label foreign exchange (FX) platform led by sector veteran Harry Geller, has attracted £700,000 in pre-seed funding.
The funding round for the start-up was led by CH-1 Investment Group and other angel investors.
Targeting small and medium sized businesses (SMEs), E-Money Markets is integrating FX and payment APIs into a single, modular platform.
This allows SMEs to access financial tools without complex integrations, through a white label brokerage model.
E-Money Markets co-founder and CEO Harry Geller said: “New-age payment technology has been too slow to reach SMEs, who are often overlooked and underserved. A finance director doesn’t want to purchase $500,000 through an app, but they do want access to innovative payment gateways and FX technology offered by the fintechs.
“The product range available to both brokers and SMEs has not kept pace with the paytech advancements seen in other sectors. We’ve set-up E-Money Markets to change this.”
Geller founded the start-up in 2023, after previously having worked for Currencycloud for more than 10 years, where he was global head of FX brokerage prior to that firm’s acquisition by Visa for £1 billion.
Similarly to E-Money Markets, Currencycloud offers a broad set of FX APIs. However, its offering is targeted at banks and other financial institutions. At the time it was acquired, it supported nearly 500 banking and technology clients in over 180 countries.
CH-1 Investment Group’s founder Richard Spacey said the firm was drawn by the industry experience of the E-Money Markets team and what he views as an undeserved market with “immense potential”.
In a 2019 article for Good Money Guide, Geller explained how you can open your own FX brokerage using a white label platform such as Currencycloud.
We also have our own more extensive guide on how to set up your own FX, CFD or spread betting using a white label platform using a service. You can view it through this link.
Robin has more than six years of experience as a financial journalist, most of which were spent at Citywire, and covers the latest developments in the investing, trading and currency transfer space. Outside of work, he enjoys reading literature and philosophy and playing the piano.
You can contact Robin at robin@goodmoneyguide.com
