Following a £140 investment from Blackstone, Redpin has launched as a brand aimed to reducing currency costs for international property purchases.
What is Redpin?
Redpin operates globally, serving customers and SMEs in over 235 territories with a network transacting more than $12.6 billion in the last financial year. The company, headquartered in London, plans to expand its services beyond international payment and customer service to include vertical software services for various sectors within the property industry. The move is supported by significant investors, including Palamon and Corsair, with the ambition of Redpin becoming a category-defining company in its field.
Redpin currently owns three of the biggest currency broker brands in the UK:
Redpin is led by CEO Arnaud Loiseau, who was previously international CEO at WorldRemitm a money transfer app, aimed at smaller currency transfers. Loiseay has stated that Redpin plans to enhance its international payment network and grow through acquisitions in the property technology sector globally.
Referrals from service providers in the property industry, such as legal firms, title companies, estate agents, and property managers, are an excellent source of business so the strategy should offer a unified experience in SAAS and international payments.
As well as providing SAAS (Software as a service) for peripheral international property firms, Redpin also provides white paper-type insight on topics such as the global residential markets. which included:
- Interest Rate Impact: Redpins software can mitigate interest rate risks when buying property abroad
- Market Trends: High-value transactions are still on the increase, for example, Ski resort Chalets
- Global Variations: The global property market is slowing, but countries like Turkey, Croatia, Greece, and Portugal saw price rises.
- Outlook for 2024: If interest rates drop the demand for international property coudl rise again
- Regulatory Changes: Regulator changes like the Golden visa schemes are having a serious impact on property trends.