London-based WeSwap has raised £6.5m to expand its P2P travel money platform into new markets and develop new products. The company is now looking for a partner in the UK who can help it scale up operations across Europe. Unlike Revolut, which aims to keep its service mostly fee free to customers, WeSwap charges 1% of the amount of currency converted and aims to be profitable by next year.
London-based WeSwap has raised £6.5m to expand its P2P travel money platform into new markets and develop new products. Similar to peer Revolut, which as we reported yesterday, has just raised a near identical amount of cash, WeSwap provides customers with a card linked to its app for use abroad. Unlike Revolut, which aims to keep its service mostly fee free to customers, WeSwap charges 1% of the amount of currency converted and aims to be profitable by next year.