Top new businesses of 2014: Centtrip
The world’s first pre-paid MasterCard to offer 14 currencies on a single card…
Founders: Daniel Butcher, Brian Jamieson and Tony North
Launched: June 2014
The financial technology industry is booming; in recent months we’ve seen the launch of a global FinTech accelerator in London, a new industry body for the sector, and several innovative, disruptive UK start-ups gaining traction in the space – one of these FinTech frontrunners being Centtrip.
Having sold their previous companies for a combined total of $350m, seasoned entrepreneurs and financial experts, Daniel Butcher, founder of HiFX, and Brian Jamieson and Tony North, co-founders of Schneider Foreign Exchange, were keen to apply their knowledge of the industry to create a product and service that could “benefit everyone” and so, after raising £1.5m from a pool of high-profile investors, Centtrip was launched in June this year.
The first business of its kind worldwide to offer a MasterCard with direct access to the live currency market, Centtrip effectively enables users to get a better deal on the typical foreign exchange charges applied by banks, payment cards and brokers.
Now with 14 foreign currencies available and access provided via a smartphone app and online, it’s hardly surprising that the business has already secured over 20,000 card orders, with no paid-PR or paid-promotions. It has also grown to nine employees and expects staff numbers to increase to 12 in the first quarter of 2015.
Having taken home the accolade of Tech Business of the Year at the Startups Awards 2014, the Shoreditch tech company asserts that, despite its early success, it hasn’t yet “had its definitive breakthrough moment” – we predict big things for Centtrip in 2015.