Fintech payments and invoicing platform, HedgeFlows, are partnering with Travelex in the launch of a secure pre-order exchange rate service aimed at travellers and tourists.
HedgeFlows and Travelex
HedgeFlows is partnering with Travelex to launch a secure exchange rate product, enabling UK holidaymakers and other travellers to secure FX conversion rates ahead of their journey, allowing them to protect their travel money from currency fluctuations.
The new service will be offered to consumers by third parties including travel agents and airlines, and for a small fee, the end customer will be able to pre-book their travel money at a pre-agreed and fixed FX rate.
The travel agents and airlines, should in theory generate an additional income stream from the service.
HedgeFlows has expertise in providing payments and currency services to SMEs the firm raised £2.0 million back in February in an initial seed funding round.
Whilst Travelex is one of the leaders in travel money, physical FX conversions and pre-paid cards.
Founded in 1976 it has a presence in over 20 countries, operating out of 1100 stores, through 900 ATMs and online.
Neh Thaker, co-founder of HedgeFlows said of the new partnership:
“Volatile exchange markets present great challenges to consumers and businesses alike and our secure foreign exchange support with Travelex can help facilitate FX with confidence”
Adding that:
“Financial barriers for overseas trading are a core issue for many businesses, in particular, requiring technology and expertise to protect against rising costs and unreliable rates”.
“Our work with Travelex demonstrates that foreign exchange doesn’t need to be costly or hard work, helping people to protect their money.”
For his part, Travelex CEO Richard Wazacz said:
“For too long holiday goers have had to deal with fluctuating exchange rates which put their holiday plans in jeopardy and create a stressful experience”
He added:
“With HedgeFlows we’ve changed that, offering secure exchange services to give customers piece-of-mind so they can focus on their travelling rather than exchanging currency”
With over 35 years of finance experience, Darren is a highly respected and knowledgeable industry expert. With an extensive career covering trading, sales, analytics and research, he has a vast knowledge covering every aspect of the financial markets.
During his career, Darren has acted for and advised major hedge funds and investment banks such as GLG, Thames River, Ruby Capital and CQS, Dresdner Kleinwort and HSBC.
In addition to the financial analysis and commentary he provides as an editor at GoodMoneyGuide.com, his work has been featured in publications including Fool.co.uk.
As well as extensive experience of writing financial commentary, he previously worked as a Market Research & Client Relationships Manager at Admiral Markets UK Ltd, before providing expert insights as a market analyst at Pepperstone.
Darren is an expert in areas like currency, CFDs, equities and derivatives and has authored over 260 guides on GoodMoneyGuide.com.
He has an aptitude for explaining trading concepts in a way that newcomers can understand, such as this guide to day trading Forex at Pepperstone.com
Darren has done interviews and analysis for companies like Queso, including an interview on technical trading levels.
A well known authority in the industry, he has provided interviews on Bloomberg (UK), CNBC (UK) Reuters (UK), Tiptv (UK), BNN (Canada) and Asharq Bloomberg Arabia.
You can contact Darren at darrensinden@goodmoneyguide.com
