B2B cross-border foreign exchange Verto launched its multi-currency global account, allowing businesses to receive and send payments across 190 countries in up to 51 currencies, according to a Wednesday (May 25) company press release.
Global Account lets businesses take in money in up to 25 currencies, convert the funds and pay their partners, suppliers or employees in 51 currencies. The company finalized a $10 million Series A funding round in September and has a presence across Europe, the U.S. and the U.K.
“With our Global Account solutions, we now support businesses and merchants across the U.K., U.S., Europe and emerging markets who need access to foreign account capabilities in neighboring countries for regional and global expansion,” said Ola Oyetayo, CEO and co-founder of Verto, in the press release.
Verto’s Global Account offering helps businesses that have struggled with currency conversion issues when it comes to paying partners, suppliers and employees, said Oyetayo.
“Now businesses can conveniently send and receive cross-border payments, hold multi-currency accounts and manage foreign exchange on a single platform,” he said. “We’re proud to bridge the gap and be the fuel and infrastructure behind the fastest growing companies conquering the industry.”
Related: Verto, Banking Circle Partner on International Payments
In December, VertoFX teamed up with Banking Circle to streamline international payments. Verto uses the bank’s virtual International Bank Account Number (IBAN) solution and local payment rails to alleviate the pain of complex pay-ins and cross border payments.
Accounts and payments are now in the client’s name and receive individual IBANs to simplify reconciliation, make clients more confident and pave the way for easier international transactions.
