Equals Money
Equals Money is a London-headquartered FCA-regulated embedded payments platform offering multi-currency accounts, cards, international payments, corporate FX, and BaaS/white-label infrastructure to over 50,000 business clients across 38+ currencies, with named partnerships including Metro Bank, Bloxley, Mastercard, and BVNK.
- Company typePrivate
- Founded2007
- HeadquartersLondon, United Kingdom
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Equals Money does
Equals Money is an FCA-regulated Electronic Money Institution and Payment Institution headquartered in London, operating as a wholly-owned subsidiary of publicly listed Equals Group Limited (LSE: EQLS). The company provides an embedded payments platform that combines multi-currency accounts spanning 38+ currencies, physical and virtual card issuing (issued under a Mastercard license, with Apple Pay/Google Pay/Samsung Pay support), international payment processing, corporate FX services including spot, forward contracts, and limit orders, and spend management software. As of 2025/26 the platform processes more than £38 billion in annual transaction volume and serves over 50,000 business clients across multiple industries including film/TV production, hospitality, wholesale and manufacturing, banking, neobanking, digital assets, CFD trading, and iGaming.
The underlying technology is a RESTful API-first platform with sandbox and production environments, supporting a single integration for accounts, cards, payments, and FX. Distinctive technical capabilities include multi-currency account infrastructure, forward-contract FX APIs for currency risk hedging, Merchant Category Code-based card controls, real-time transaction activity APIs, and digital wallet token provisioning. The platform offers white-label and Banking-as-a-Service capabilities, currently powering neobank Bloxley's European financial infrastructure and Metro Bank's FX Forwards product. AI-enabled features are concentrated in security, including behavioral anomaly detection and Okta-powered authentication. USDC stablecoin payment capabilities were added in October 2025 through a partnership with BVNK.
Equals Money generates revenue from transaction fees on FX and international payments, card interchange and transaction fees, embedded finance and BaaS subscription revenue, spend management platform subscriptions, and stablecoin payment services. Its go-to-market is hybrid: API-first distribution for enterprise and embedded partners, dedicated enterprise sales for complex bank and fintech clients, OEM and white-label channels for neobanks, and product-led self-serve onboarding for SMBs. Following the 2025 merger with Railsr and the June 2026 rebrand to "Equals," the company expanded its senior leadership team with a CRO, SVP Customer Growth, SVP Marketing, and Head of Digital Assets, and continues to add enterprise partnerships across banking, neobanking, and digital assets.
Equals Money firmographics
Firmographics- Name
- Equals Money
- Legal name
- Equals Money PLC
- Website
- https://equalsmoney.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Equals Money is a London-headquartered FCA-regulated embedded payments platform offering multi-currency accounts, cards, international payments, corporate FX, and BaaS/white-label infrastructure to over 50,000 business clients across 38+ currencies, with named partnerships including Metro Bank, Bloxley, Mastercard, and BVNK.
- Ownership category
- akta.pro rank
Equals Money industry classification
Industry- Product category
- Cross-Border Payments & FX
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- International Affairs (9721), Finance Services (6199)
- akta.pro primary industry
- Cross-Border Payment Orchestration & Routing (FSAGAKAJ)
- akta.pro secondary industries
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), Cross-Border B2B2C Payouts (Mass Payouts, Gig/Creator, Marketplace) (FSAGAKAC)
Keywords
Where Equals Money is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices3 records
Markets served
Equals Money business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- International Payments & FX Services: Revenue from currency exchange and international payment transactions. Services include spot trades, forward contracts, limit orders, and bespoke FX options with competitive rates and same-day payment processing.
- Card Issuing & Management: Revenue from issuing prepaid expense cards, business debit cards, corporate cards, virtual cards, and purchasing cards. Cards issued by Equals Money International Limited under Mastercard license.
- Embedded Finance & BaaS: White-label and embedded finance infrastructure fees from banking-as-a-service, API access, and card issuing capabilities delivered to partners including neobanks and financial institutions.
- Spend Management Software: Platform fees for spend management software enabling businesses to track and control company spending, manage budgets, and monitor transactions in real-time.
- Stablecoin Payments: USDC stablecoin payment services for global businesses enabling fast cross-border cryptocurrency transactions in partnership with BVNK.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Business account with multi-currency support, expense management, and international payments |
Go-to-market motion5 records
Distribution channels5 records
Marketing channels7 records
Equals Money product offering
Product offeringCore offering
Equals Money operates an FCA-regulated Electronic Money Institution (EMI) and Payment Institution (PI) platform that delivers a unified global money movement solution spanning multi-currency business accounts, prepaid corporate cards, foreign exchange, international payments, spend management software, and embedded finance infrastructure (BaaS, APIs, white-label). The company serves over 50,000 business clients across 38+ currencies and processed more than £58 billion in transaction volume in 2025/26, with distribution via direct sales, self-serve, API, and integration partners such as Xero and SAP Concur.
Product overview
Equals Money is a next-generation global money movement platform that offers a unified platform-plus-modules architecture combining accounts, cards, payments, and FX capabilities through a single connection. The core product portfolio includes Spend Management Software, Multi-Currency Business Accounts, and Business Current Accounts for account management; Prepaid Expense Cards, Business Debit Cards, Corporate Cards, and Virtual Cards for card Issuing; International Payments, Corporate FX, FX Forward Contracts, and Mass Payments for currency and payment services; and Banking-as-a-Service, White Label Solutions, and the Equals API for embedded finance and developer access. The platform is FCA-regulated and processes over £58 billion in annual transaction volume, serving more than 50,000 business clients across 38+ currencies.
Differentiator
Problem solved
Functional benefit
Products and services
- Spend Management Software
Quantifiable outcome
- £58 billion in annual transaction processing volume in 2025/26
- +3 more outcomes
Companies that use Equals Money
Customer profileNamed customers6 records
Segments10 records
Ideal customer profiles4 records
Equals Money technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability2 records
Feature6 records
Equals Money partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered minor and core.
- Visa Consulting & AnalyticsminorCommissioned research partnership to understand embedded finance and payments strategy realities. Research interviewed 150+ senior leaders across banks, fintechs, trading portals and digital asset exchanges in UK and Western Europe. Study explores service gaps limiting growth in embedded finance.
- BloxleycoreAI-driven neobank partnering with Equals Money to power European financial infrastructure. Equals provides multi-currency accounts and international payment rails for Bloxley's Gen Z and Millennial targeting platform. Bloxley raised €2.5M seed funding at $25M valuation ahead of 2026 public launch across four initial countries with plans to expand to US market.
- Metro BankcoreMetro Bank launched FX Forwards service powered by Equals Money infrastructure under Embedded Finance model. Enables Metro Bank's corporate and commercial customers to lock in exchange rates for future international transactions as a hedge against currency volatility. Metro Bank brings new product to market without developing proprietary FX technology.
- OktacoreIdentity and access management partnership to reinforce security and governance across Equals Money's AI-enabled payments infrastructure. Building on 16-month relationship using Okta's Auth0 platform and Okta workforce identity products. Partnership provides behavioral monitoring, role-based access control, shadow AI oversight, and secure authentication to protect against AI-enabled threats.
- BVNKcoreJoint service enabling fast USDC stablecoin payments for global businesses. Equals Money, Railsr, and BVNK collaborate to facilitate cryptocurrency transactions and improve cross-border payment efficiency using USDC stablecoin infrastructure.
- XerocoreIntegration partnership enabling Equals Money customers to connect financial workflows with Xero accounting software for seamless reconciliation and expense management.
- SAP ConcurcoreIntegration partnership announced for SAP Concur expense management users to access Equals Money payment and expense capabilities within their travel and expense workflows.
- Cross River BankcoreUS banking partner issuing Equals Money Corporate Prepaid Mastercard. Deposits held at Cross River Bank, Member FDIC, insured up to $250,000.
- MastercardcoreCard issuing partnership enabling Equals Money International Limited to issue cards under Mastercard license. Supports physical and virtual card products including prepaid expense cards, business debit cards, corporate cards, and purchasing cards.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
Equals Money competitors and assessment
Company assessmentDirect peers
- OFX: Specialist cross-border payments and FX provider for businesses and individuals. Comparable to Equals's corporate FX, forward contracts, and international payments suite.
- WorldFirst: Ant Group-owned cross-border payments and multi-currency account platform for SMBs and enterprises. Direct competitor on cross-border collections, payments, and FX.
- Nium: Cross-border payments and BaaS infrastructure provider serving banks, fintechs, and corporates. Closely comparable to Equals's embedded finance, multi-currency accounts, and card-issuing API offerings.
- Revolut Business: Revolut's business banking product offers multi-currency accounts, corporate cards, expense management, and international payments. Direct overlap with Equals on FX, cards, and spend management for SMBs.
- Currencycloud: Visa-owned cross-border payments infrastructure and FX API provider. Competes with Equals at the API/BaaS layer for banks, fintechs, and platforms needing multi-currency rails.
- Airwallex: Global cross-border payments and multi-currency account platform targeting businesses. Competes head-to-head with Equals on FX, international payments, and embedded/API distribution.
- Wise: Publicly listed UK-based cross-border payments and multi-currency account specialist. Most direct competitor to Equals Money's international payments, FX, and business account offerings for SMBs and mid-market clients.
- PingPong: Cross-border payments platform focused on e-commerce, marketplaces, and B2B payouts. Comparable to Equals on international payouts, multi-currency balances, and embedded distribution.
Broad incumbents
- Brex: US-based corporate card and spend management platform expanding into international payments and FX. Overlaps with Equals on cards, expense management, and increasingly on cross-border capability.
- Payoneer: Publicly listed cross-border payments and multi-currency account platform for SMBs, freelancers, and marketplaces. Overlaps with Equals on international payments, multi-currency accounts, and mass payouts.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Equals Money social profiles
Digital presenceEquals Money compliance and trust
Trust signalCompliance3 records
Equals Money financial estimates
Financial estimateRevenue estimate
Valuation estimate
Equals Money leadership team
Management profileNumber of profiles
Profiles11 records
Equals Money subsidiaries and ownership
Company hierarchySubsidiaries2 records
Equals Money funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Equals Money 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 Equals Money
What does Equals Money do?
Equals Money operates an FCA-regulated Electronic Money Institution (EMI) and Payment Institution (PI) platform that delivers a unified global money movement solution spanning multi-currency business accounts, prepaid corporate cards, foreign exchange, international payments, spend management software, and embedded finance infrastructure (BaaS, APIs, white-label). The company serves over 50,000 business clients across 38+ currencies and processed more than £58 billion in transaction volume in 2025/26, with distribution via direct sales, self-serve, API, and integration partners such as Xero and SAP Concur.
Is Equals Money a public or private company?
Equals Money is a private company. It is classified as corporate owned and is currently operating.
When was Equals Money founded?
Equals Money was founded in 2007. It employs 251 to 500 people.
Where is Equals Money based?
Equals Money is headquartered in London, United Kingdom, in the Europe region.
How does Equals Money make money?
Five revenue lines are on record. International Payments & FX Services are the primary driver. The others are card Issuing & Management, embedded Finance & BaaS, spend Management Software and stablecoin Payments.
Who are Equals Money's main competitors?
Direct peers on record are OFX, WorldFirst, Nium, Revolut Business, Currencycloud, Airwallex, Wise and PingPong. Broad incumbents are Brex and Payoneer.
Does Equals Money have an API?
Yes. Equals API is a RESTful API that authenticates using API keys, uses form-encoded request bodies, and returns JSON-encoded responses. It provides access to accounts, cards, payments, FX, recipients, addresses, webhooks, digital wallet tokens (Apple Pay, Google Pay, Samsung Pay), merchant controls, and transaction activity. Features include: 5 requests per second rate limit with burst of 100 requests per minute, IP whitelisting, idempotent requests via x-idempotency-key header (24-hour expiry), webhook retries every 5 minutes for 2 weeks, and sandbox environment available. Developer documentation is at docs.equalsmoney.com.
What industry is Equals Money in?
Equals Money's product category is Cross-Border Payments & FX. Its primary akta.pro industry code is FSAGAKAJ, Cross-Border Payment Orchestration & Routing, with a secondary code of FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services. Its NAICS code is 522320 and its SIC code is 9721.