Freemarket

What Freemarket does

Freemarket operates an API-first cross-border payments and FX network serving small and medium enterprises, payment service providers, money service businesses, gaming companies, and digital asset providers. The company is regulated by the UK Financial Conduct Authority (Firm No. 585093) through FreemarketFX Limited and by the Central Bank of Ireland (Firm No. C456818) through FreemarketFX Ireland Limited, with headquarters in London and a regional office in Dublin. Its platform combines traditional FX rails with blockchain-based stablecoin settlement, offering foreign exchange via Scheduled Batch and Real-Time Pricing, multi-currency accounts supporting over 30 fiat currencies with virtual IBANs, and, uniquely, embedded USDT mint, settlement, and burn through its partnership with Axiom.

The product stack includes the core Freemarket Network Platform, a Web Banking Portal, developer APIs with sandbox testing, compliance services with real-time KYC and AML checks on every transaction, and add-on modules such as Pay Now Settle Later (PNSL) for liquidity and Group Accounts/Wallets for multi-entity cash management. The technology architecture is described as a regulated partnership network combining bank and blockchain endpoints, with intra-network transfers processed instantaneously to bypass correspondent banking chains. The platform is accessed via online self-serve accounts for quick onboarding or via direct API integration for enterprise clients.

Freemarket's revenue model is transaction-based, monetizing FX spreads and conversion fees, payment transaction fees on withdrawals and inbound processing, monthly custody fees tied to central bank reference rates plus a mark-up, and dormancy fees on inactive accounts. Go-to-market is hybrid: enterprise field sales with dedicated relationship managers, an API-first developer channel with sandbox, and a network partner channel reaching banks, PSPs, MSBs, liquidity providers, and stablecoin issuers. Marketing is led through the Freethinking content hub, social media presence on X and LinkedIn, and a partner marketplace showcasing the ecosystem. The company has raised approximately $7.3M in disclosed funding across rounds from 2015 to 2020, with subsequent undisclosed growth capital from Baird Capital in May 2023.

Name

Freemarket

Legal name

FreemarketFX Limited

Website

https://wearefreemarket.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

101–250 employees

Short description

Freemarket is an FCA- and Central Bank of Ireland-regulated cross-border payments network offering FX, multi-currency accounts, and embedded USDT stablecoin mint/burn settlement for global businesses, money movers, gaming companies, and digital asset providers.

Ownership category

akta.pro rank

Product category

Cross-Border Payments Platform

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK)

akta.pro secondary industries

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Stablecoin Payment Rails & Settlement Networks (Issuer-Led) (FSADADAF), Cross-Border & FX Payments Platforms (BPAMAFAK)

Keywords

• Cross-border payments
• Foreign exchange services
• Multi-currency accounts
• Stablecoin settlement
• Payment infrastructure

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Foreign Exchange Services: Currency exchange services including scheduled batch processing and real-time pricing (RTP). Revenue generated through exchange rate spreads and conversion charges. Sell Orders and Buy Orders processed with associated fees.
2. Payment Services: Payment account services enabling receive and make payments. Revenue from transaction fees on withdrawals, inbound payment processing, and monthly account maintenance.
3. Custody/Negative Interest Fees: Fees calculated on average daily account balance, comprising central bank reference rate plus a mark-up. Charged monthly to recover costs associated with holding funds in particular currencies, particularly where negative interest rates apply.
4. Dormancy Fees: Monthly dormancy fee charged when no payment transactions occur for 60 calendar days with no instruction for onward transfer. Minimum fee structure applies.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Freemarket operates an API-first global payment and settlement network that enables businesses to send, receive, and convert money across borders across more than 30 fiat currencies. The platform combines traditional FX rails (with both Scheduled Batch and Real-Time Pricing options) with stablecoin capabilities—specifically, instant mint, settle, and burn of fresh USDT through its regulated Axiym/Axiom partnership. Multi-currency accounts with virtual IBANs, real-time transaction monitoring, and KYC/AML compliance are delivered to global businesses, money movers, gaming operators, and digital asset providers.

Product overview

Freemarket is a unified global payment network platform for fast, secure, borderless money movement. The core Freemarket Network Platform serves as the foundation, integrating FX Services (with Scheduled Batch and Real Time Pricing options), Stablecoin Services enabling USDT mint/burn/settlement via Axiym partnership, Multi-Currency Accounts with virtual IBANs supporting 30+ currencies, and Compliance Services with real-time KYC/AML screening. The platform offers access through the Web Banking Portal (online accounts for businesses) and Developer APIs (for custom integrations). Specialized vertical solutions include Gaming Payment Infrastructure and Digital Asset Provider Banking. Additional features include Pay Now Settle Later (PNSL) for liquidity and Group Accounts/Wallets for multi-entity cash management.

Differentiator

Problem solved

Functional benefit

Products and services

• Freemarket Network Platform

Quantifiable outcome

• Instant settlement between Freemarket clients
• +1 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• Napier AIcoreTechnology or Integration · 1 December 2025Extended partnership with Napier AI, a London-based financial crime compliance technology provider, to provide AI-powered transaction monitoring and protect against money laundering. The partnership supports Freemarket's global expansion by enhancing operational efficiency and using AI to detect financial risks and behavioral anomalies. Napier AI's research indicates $3.3 trillion could be returned to global economies through AI-powered AML strategies.
• AxiomcoreTechnology or IntegrationStrategic partnership enabling Freemarket to be the only payment network where clients can instantly mint, settle and burn fresh USDT stablecoin through regulated partners. Clean stablecoin capabilities satisfy compliance teams.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Wise (formerly TransferWise): Direct competitor in cross-border payments and multi-currency accounts for businesses and individuals. Operates a global multi-currency network with comparable FX and treasury capabilities, though at significantly greater scale and consumer-brand recognition.
• Airwallex: Direct B2B competitor offering multi-currency business accounts, cross-border payments, FX and embedded financial infrastructure. Targets SMEs and enterprise treasury operations with API-first distribution similar to Freemarket's model.
• Currencycloud: Direct competitor offering cross-border payment APIs and multi-currency infrastructure for banks, PSPs and platforms. Acquired by Visa, giving it significantly greater scale and global banking access than Freemarket.
• Ebury: Direct peer providing cross-border payments, FX and multi-currency accounts for SMEs and mid-market companies, with particular strength in emerging markets. Now owned by Santander, providing deep banking rails comparable to what Freemarket aims to offer.
• Banking Circle: Direct competitor offering cross-border payment infrastructure, multi-currency accounts and virtual IBAN services to banks, PSPs and money movers. Targets the same institutional client base as Freemarket with a similar compliance-led value proposition.
• OFX: Direct competitor in B2B cross-border payments and FX for SMEs and mid-market businesses. Provides multi-currency accounts and international payment services overlapping significantly with Freemarket's global-business segment.
• Mercury FX: Direct UK-based peer providing cross-border payments and FX services for businesses and individuals, including emerging-market corridors. Comparable size and regulated-UK positioning to Freemarket.

Broad incumbents

• Ripple: Broader incumbent in cross-border payments leveraging distributed-ledger technology for international settlements. Competes with Freemarket's stablecoin-rail positioning for institutional and bank-grade cross-border flows, though typically targeting larger institutional customers.
• Revolut Business: Broader incumbent offering multi-currency business accounts, cross-border payments and FX as part of a wider consumer and business banking platform. Competes with Freemarket for SME treasury and cross-border payment use cases, though within a much larger product portfolio.

Emerging players

• Circle: Emerging competitor in stablecoin payment infrastructure (USDC issuance). Overlaps with Freemarket's digital-asset-provider offering and FX capabilities, particularly for fiat-stablecoin conversion at the institutional level.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/wearefreemarket
• LinkedInlinkedin.com/company/freemarketfx
• Facebookfacebook.com/wearefreemarket

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Freemarket