People’s Champion Finalist: Whites Group
The Nottinghamshire fintech firm bringing transparency back to foreign exchange – will you vote for it to be your people’s champion?
Start-up name: Whites Group
Founders: Jack Horton and Freddie Reid
Started in: 2012
Based in: Nottinghamshire
Business description: Foreign exchange, international payments and technology services
The Whites Group story:
Both young veterans of London’s financial sector, Jack Horton and Freddie Reid knew all too well the frustrations of the costly, confusing and self-serving foreign exchange market.
Featured in this year’s Startups 100, Whites Group develops cost and time-saving technology for businesses in the financial services involved in anything from international currency transactions to investment management. As well as its Invest Admin platform, which allows managers to outsource their back and middle office functions, the firm’s newly developed SettlePay lets businesses see exactly how much they’ve historically been charged in real time for currency transactions.
The decision to base the business outside of London’s already very crowded fintech market has enabled the company to charge less for its services, opening up its technology to both large corporates and small businesses alike. Having recently opened an office in financial hotspot Singapore, Whites hopes to double in size and continue to develop its disruptive suite of technologies.
Why Whites Group made our 60:
Launched just three years ago, the entirely self-funded operation has achieved close to 50% year-on-year growth and is already hitting revenue in the hundreds of millions. As it continues to thrive and expand on the global stage, we’ll be keeping our eye on what Whites can achieve in the next three.