WeSwap
WeSwap was a London-based mobile peer-to-peer currency exchange platform founded in 2010 that allowed users to swap currencies directly with one another, raising approximately $34.4 million in funding before its weswap.com domain expired.
- Company typePrivate
- Founded2010
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
WeSwap firmographics
Firmographics- Name
- WeSwap
- Website
- https://weswap.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Closed
- Headcount range
- 11–50 employees
- Short description
- WeSwap was a London-based mobile peer-to-peer currency exchange platform founded in 2010 that allowed users to swap currencies directly with one another, raising approximately $34.4 million in funding before its weswap.com domain expired.
- Ownership category
- akta.pro rank
WeSwap industry classification
Industry- Product category
- Currency Exchange
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE)
- akta.pro secondary industry
- Card Issuing & Virtual Cards (lodge cards, single-use, tokenization) (THALAHAB)
Keywords
Where WeSwap is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Markets served
WeSwap business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
WeSwap product offering
Product offeringCore offering
WeSwap is a mobile application that enables users to swap different currencies directly with other users, functioning as a peer-to-peer currency exchange platform. The service allows travelers and individuals needing foreign currency to exchange money at rates that avoid traditional bank or bureau de change markups by matching counterparties on the platform.
Differentiator
Problem solved
Functional benefit
Products and services
- WeSwap Mobile App Mobile application that enables individual users to swap different currencies directly with other users on a peer-to-peer basis, providing a foreign exchange service targeted at travelers and consumers needing multi-currency support.
Companies that use WeSwap
Customer profileIdeal customer profiles1 record
WeSwap technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
WeSwap competitors and assessment
Company assessmentBroad incumbents
- MoneyGram: Global cross-border P2P payments and FX network. Comparable to WeSwap in cross-border value transfer, with a much broader corridor and agent network.
- Travelex: Long-established global travel money provider offering FX, prepaid cards and banknotes. Competes with WeSwap in the traveller FX category as a large incumbent with physical and digital distribution.
- Western Union: Largest global cross-border money transfer operator. Competes with WeSwap in international FX/payments, though it relies on a retail agent model rather than a mobile peer-to-peer swap model.
- Starling Bank: UK challenger bank offering multi-currency accounts and in-app FX. Competes with WeSwap in the UK digital cross-border spending / FX category with a full banking license.
Direct peers
- CurrencyFair: Peer-to-peer currency exchange platform allowing users to swap currencies at mid-market rates. Operates a near-identical model to WeSwap in the same cross-border FX / travel money category.
- Wise (formerly TransferWise): Cross-border money transfer and multi-currency platform. Direct functional competitor to WeSwap in retail cross-border FX, with a much larger scale and broader product set.
- Revolut: Multi-currency digital banking app with built-in FX, travel money card, and peer-to-peer transfers. Competes with WeSwap across the same travel-money and cross-border spending use cases.
- TransferGo: Cross-border remittance and FX platform serving migrants and international senders. Overlaps with WeSwap's FX transfer functionality and UK/EU customer base.
- WorldRemit: Digital cross-border money transfer service operating across many corridors. Comparable to WeSwap in the international payments / FX space, focused on remittances.
Emerging players
- Monese: UK-based mobile banking account with multi-currency support and FX. Comparable to WeSwap in serving cross-border and migrant customers in the UK/EEA with a digital-only banking experience.
Market position
Customer concentration
WeSwap social profiles
Digital presenceWeSwap financial estimates
Financial estimateRevenue estimate
Valuation estimate
WeSwap leadership team
Management profileNumber of profiles
Profiles8 records
WeSwap funding detail
Funding detailFunding overview
Funding rounds8 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
WeSwap M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about WeSwap
What does WeSwap do?
WeSwap is a mobile application that enables users to swap different currencies directly with other users, functioning as a peer-to-peer currency exchange platform. The service allows travelers and individuals needing foreign currency to exchange money at rates that avoid traditional bank or bureau de change markups by matching counterparties on the platform.
When was WeSwap founded?
WeSwap was founded in 2010. It employs 11 to 50 people.
Where is WeSwap based?
WeSwap is headquartered in London, United Kingdom, in the Europe region.
Who are WeSwap's main competitors?
Broad incumbents on record are MoneyGram, Travelex, Western Union and Starling Bank. Direct peers are CurrencyFair, Wise (formerly TransferWise), Revolut, TransferGo and WorldRemit. Monese is listed as an emerging player.
Does WeSwap have an API?
No public API is recorded for WeSwap.
What industry is WeSwap in?
WeSwap's product category is Currency Exchange. Its primary akta.pro industry code is THALAHAE, Cross-Border Payments & FX (multi-currency wallets, DCC, remittance), with a secondary code of THALAHAB, Card Issuing & Virtual Cards (lodge cards, single-use, tokenization). Its NAICS code is 52232 and its SIC code is 6199.