Fourex, a self-service kiosk for exchanging money into 150 different currencies, is looking to raised £900,000 in a crowdfunding campaign on Crowdcube.
At the time of writing, the company has pulled in £544,800 from 174 individual investors. The company is offering 3.47 per cent of its equity for this initial sale. It is unclear whether the £900,000 figure is a target or a hardcap.
The funds are being raised at a pre-money valuation of £25m.
Fourex is hoping to increase is digital expansion efforts with a FX pre-order collection/mobile wallet. The company’s growth plans also include launching in additional airports, rail terminals, ports, and high footfall retail locations.
Founded in 2015, the company offers an ATM to exchange money from over 150 currencies, with no fees and o per cent commission.
In the last two years, the company has grown its revenue by 175 per cent to reach £1.98m and hitting an EBITDA of £2.14m.
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