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CNBC - USForex Powers Its Way to Great Growth and Success in Its First Year
Monday, 29 July 2013
USForex, one of the world’s fastest-growing, technology-driven foreign exchange providers, today celebrates its one-year anniversary, announcing the fantastic success and growth the company has achieved in the past year. The growth is driven by the company’s ability to make foreign exchange simple, secure and easy, with quick setup, transparency and tailored payment solutions.
A wholly-owned subsidiary of OzForex and headquartered in San Francisco, USForex completed more than 500,000 transactions and served more than 25,000 customers in its first year of business in the U.S. These progresses led to the trading of approximately $750 million in its first year, with 85 percent of transactions performed online and 15 percent over the phone. Additionally showcasing USForex’s diversity, five percent of new registrations occurred on a mobile device.
“Accel decided to invest in OzForex and its global brands because we recognized their technology leadership position in the increasingly digitized world of financial services. The impressive growth of their USForex brand in the U.S. market is a testament to their ability to provide customers cutting-edge online and mobile financial products, and further validates the Company's leadership position in international payments,” said Ryan Sweeney, General Partner at Accel Partners. “As the world continues to be more interconnected, USForex is well-positioned to continuing to help businesses and customers send money throughout Europe, Asia, North America and Australia. We are excited about their success to date and look forward to being a part of their future growth as well.”
Over the last year, USForex has gained 19 state licenses, and also provides services in four additional states where licensing is not necessary. With a high-tech and high-touch focused delivery model, USForex offers 24-hour access to corporate and private client dealers for all of its customers, leveraging a blend of powerful technology and customer service to supply its customers with better value on foreign exchanges.
“It has been a tremendous first year for USForex, and it is only the beginning,” said Michael Ward, CEO Europe and North America for USForex. “We have high expectations at the company, and are only starting to scratch the surface of how we can partner with businesses and individuals to deliver the tools and strategic counsel they need to mitigate the risk associated with managing international payments. The future is bright at USForex, and we look forward to continuing to deliver a cost-effective transfer option that was previously not available in this market.”
USForex customers have the ability to make international money transfers from home or anywhere in the world by phone or via USForex’s fully secure online platform. The company operates in Alabama, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Maine, Maryland, Massachusetts, Michigan, Missouri, Montana, New Mexico, North Carolina, Oregon, South Carolina, Texas, Utah, Virginia, Washington and Wisconsin.
From CNBC
