What HiFX does

HiFX, founded in 1998 and headquartered in Windsor, UK, operated as an online international money transfer and currency exchange provider. In 2024 the brand was merged into Xe Corporation Inc. (founded 1995, USA-domiciled), and HiFX now exists as a retired brand with all clients transitioned onto the unified Xe platform while retaining their account credentials, recipient details, recurring transactions, and transaction history. The combined entity operates under NMLS ID#920968 as a licensed money transmitter, regulated across multiple US states.

The technology stack centers on a self-serve web and mobile platform (iOS and Android) for international money transfers, supplemented by two programmatic API products — the Xe Currency Data API and the Xe Payments API — targeting developers and enterprise clients. Ancillary tooling includes a currency converter, historical rate tables, rate alerts, IBAN calculator, SWIFT/BIC lookup, and a currency encyclopedia. The business platform extends the core transfer engine with spot transfers, same-currency transfers, forward contracts, limit orders, mass payments, business payroll, and ERP integration for corporate clients.

The revenue model is transaction-based, monetized primarily through the spread between interbank and customer-facing exchange rates on international transfers, augmented by transfer fees. The go-to-market motion is predominantly self-serve and digital-first — customers register online or via app and transact without a sales interaction. Customer segmentation is horizontal, spanning individual consumers sending personal remittances, SMBs making international business payments, and larger enterprises requiring dedicated support, mass payments, and risk-management tooling. The combined Xe+HiFX entity serves millions of users globally across corridors spanning North America, Europe, Asia, Latin America, and Oceania.

Name

HiFX

Legal name

Xe Corporation Inc.

Website

https://hifx.co.uk

Company type

Private

Founded year

1995

Operating status

Acquired

Headcount range

251–500 employees

Short description

HiFX, now merged into Xe Corporation Inc., operates a global online international money transfer and currency exchange platform serving millions of individual consumers, SMBs, and enterprise clients across multiple continents with self-serve web, mobile, and API-based products.

Ownership category

akta.pro rank

Product category

Foreign Exchange and International Money Transfer

NAICS

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

akta.pro primary industry

Cross-Border & FX Payments Platforms (BPAMAFAK)

akta.pro secondary industries

FX Conversion, Pricing & Hedging Infrastructure (Treasury/Rate Engines) (FSAGAKAG), Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), Embedded FX & Cross-Border Treasury (FSAGALAG)

Keywords

• International money transfer
• Foreign exchange services
• Currency exchange platform
• Cross-border payments
• Business payment solutions

Headquarters

HQ city

Windsor

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. International Money Transfers: Revenue generated from currency exchange margins and transfer fees on international money transfers. Customers receive 'bank-beating exchange rates' indicating revenue comes primarily from the spread between interbank and retail exchange rates.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

HiFX, now operating as Xe, is an international money transfer and foreign exchange platform that enables individuals and businesses to send money abroad with bank-beating exchange rates. The platform offers personal money transfers via web and mobile apps, a comprehensive business platform with spot transfers, forward contracts, limit orders, mass payments, and risk management, as well as developer APIs for currency data and payments integration.

Product overview

HiFX and Xe have merged into a single unified platform under the Xe brand (Xe Corporation Inc., NMLS ID#920968), serving both personal and business clients for international money transfers. The core offering is the Xe Money Transfer personal platform (web and mobile apps for iOS and Android) supplemented by the Xe Business platform for corporate clients, which encompasses spot transfers, same-currency transfers, forward contracts, limit orders, mass payments, payroll, ERP integration, and risk management. Two API products — the Xe Currency Data API and the Xe Payments API — serve developers and enterprise clients programmatically. A suite of currency tools (converter, charts, historical rates, rate alerts, IBAN calculator, SWIFT/BIC lookup, and more) rounds out the offering for self-service users. HiFX operates as a retired/acquired brand now fully absorbed into Xe; existing HiFX users migrated to the Xe platform retaining all account details, recipient information, and transaction history.

Differentiator

Problem solved

Functional benefit

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• JabiruminorOthersJabiru logo appears in 'In association with' section of the HiFX/Xe website. Nature of partnership is not explicitly defined but appears to be a financial or operational partnership supporting the money transfer services.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Wise (formerly TransferWise): Direct competitor offering consumer and business cross-border money transfers with transparent mid-market-rate-plus-fee pricing. Closest comparable in product, target market, and self-serve digital model.
• Remitly: Digital-first remittance specialist focused on immigrant senders in developed markets, with strong corridors to India, Philippines, Mexico, and Pakistan — directly overlapping HiFX/Xe's corridor focus.
• Revolut: Multi-currency neobank offering in-app international transfers and FX at interbank rates. Overlaps directly on consumer cross-border transfers and increasingly on SME/business payments.
• OFX (formerly OzForex): Mid-market FX and international payments provider targeting both individuals and businesses with forwards and limit orders. Closely comparable product set, especially on the Xe Business side.
• WorldRemit: Digital remittance platform focused on mobile-first cross-border transfers to bank accounts, mobile wallets, and cash pickup. Direct competitor in the consumer remittance segment HiFX/Xe serves.
• Corpay (formerly Western Union Business Solutions): B2B cross-border payments and FX risk management provider. Directly comparable to Xe Business with forwards, spot contracts, mass payments, and ERP integration for corporate treasury teams.

Broad incumbents

• Western Union: Largest incumbent in cross-border money transfer with a global agent network. Competes head-on in remittance corridors but also offers services well beyond HiFX/Xe's digital focus.
• MoneyGram: Global money transfer incumbent with both retail agent network and growing digital app. Direct competitor in consumer remittance and increasingly in digital-first transfers.
• PayPal (Xoom): PayPal's Xoom service is a digital remittance product competing directly in consumer cross-border transfers, bundled inside PayPal's broader payments ecosystem — a broader incumbent with overlapping capability.

Emerging players

• Currencycloud (Visa-owned): Cross-border payments-as-a-service platform providing FX and payment infrastructure to fintechs. Comparable to HiFX/Xe's Payments API offering from a B2B infrastructure angle.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/HiFX
• LinkedInlinkedin.com/company/hifx
• Facebookfacebook.com/142327695906127

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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 HiFX