Description

A global freelancing platform headquartered in Australia enables its clients to interview, hire, and work with freelancers and freelance agencies through the company's platform. The company now has more than 250,000 registered freelancers and 5,000 registered clients. It is looking to unify freelancer payments to 100+ countries and payroll management for its clients in Australia, Canada, Singapore, the US, and Europe without opening multiple bank accounts around the world

Needs

Finmo's Global Currency Account (GCA) functions as a local currency account that comes with dedicated local bank account numbers. The company provides virtual bank accounts issued in AUD, CAD, EUR, GBP, SGD, and USD and collects payments from its clients locally.

The company then converts collected funds to 33 holding currencies at the optimal time for payouts.

The company pays its freelancers in their currency of choice in one bulk payment: 35+ payout currencies to 180+ countries.

Solution

Benefits

1. Flexible Integration Direct API or No-Code Solution

2. No manual payments

3. Unified view of all collections and payouts in one account

4. Faster collections and payouts

5. Named local bank accounts

6. Savings up to 5% by eliminating high bank fees and lowering FX conversion fee