London - based WeSwap has raised £ 6.5 m to expand its P2P mobile payment platform into new markets and develop new products . When we have to go into the market and buy from banks and sell to customers, that costs us a lot more than when customers bring us currency directly to sell to other customers. Similar to peer Revolut , which as we discussed yesterday , has just raised a near identical amount of cash , WeSwap provides customers with a card linked to its app for use abroad . Unlike Visa , which aims to keep its services 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 £ 6.5 m to expand its P2P mobile payment platform into new markets and develop new products . Similar to peer Revolut , which as we discussed yesterday , has just raised a near identical amount of cash , WeSwap provides customers with a card linked to its app for use abroad . Unlike Visa , which aims to keep its services mostly fee free to customers , WeSwap charges 1 % of the amount of currency converted and aims to be profitable by next year .