Devisenwerk impresses SMEs

Devisenwerk AG’s services are aimed at SMEs doing business abroad. The fintech company promises to significantly reduce the costs associated with money transactions and currency exchange.

“Instead of 1 per cent plus additional – and oftentimes less transparent – costs, we charge our business customers just 0.1 per cent to a maximum 0.4 per cent for foreign currency exchange of major common currencies such as the euro, U.S. dollar or British pound – without additional costs such as the spread between the purchasing/selling rate or the average exchange rate as a fee,” said Robin Luckau, founder of Devisenwerk AG.

The platform has generated considerable interest just eight weeks after it was launched. According to a company statement, it has already achieved the first one million Swiss francs in sales. Particularly SMEs from the mechanical engineering sector are keen on the startup’s service.

The company now plans to focus on expanding and further optimizing its offerings. For instance, it will soon offer currency analysis in addition to currency exchange on its online platform.