ThePower Business School wanted to make education more accessible using tech services, or EdTech. But to go global, they needed to be able to deal with payments in different currencies.
The company was using 5 different Spain-based banks to exchange currencies. They wasted time negotiating prices, and high exchange rates left the business worse off. Meanwhile, invoices that weren’t submitted in EUR were blocked, or suppliers were paid late. As a growing business, this was unsustainable.
Solution
Managing multiple currencies
ThePower Business School turned to Revolut Business for making payments across the globe. The team used multi-currency accounts to keep global funds. They could then exchange 25+ currencies at the interbank rate, a more affordable option than the barter system the company used before.
Results
Breaking into 50 new markets with ease
Thanks to our currency exchange and multi-currency accounts, ThePower Business School entered 50 new markets for a completely international business. In less than 2 years, its revenue was almost 10x greater, positioning the organisation well to compete in the fiercely competitive EdTech market.
Ignacio Marcos Peréz, CFO • ThePower Business School“Revolut Business has been with us as we went global: we haven’t had to worry at all about whether our Business account could keep up with our market expansion in 50+ countries. A message to other founders: do it, without any doubt.”
