Qwid

What Qwid does

Qwid is a cross-border money transfer and multi-currency wallet product operated by parent company Blinqpay. The platform enables individuals, freelancers, and small businesses to send money to more than 180 destination countries, with a multi-currency wallet that supports over 50 currencies and includes virtual accounts alongside a 'request money' feature. The technical stack is built around integration with multiple payment rails — including SWIFT, SEPA, FPS, Interac, NIP, and PIX — which Qwid abstracts behind a single consumer-facing interface to provide local payout methods across LATAM, EMEA, and APAC corridors.

The company is regulated across multiple jurisdictions: it holds FINTRAC Money Services Business registration in Canada, operates as an FCA-regulated PSD agent in the United Kingdom, and is registered with the Bank of Canada as a Payment Service Provider applicant under the Retail Payment Activities Act. This regulatory footprint is a core architectural choice — each rail and corridor is paired with a specific license, allowing Qwid to operate compliantly across the G7 plus major emerging-market corridors.

Qwid's business model is transaction-based, monetizing through a combination of explicit transfer fees and foreign-exchange spreads on currency conversion. Distribution is self-serve and product-led, with users onboarding directly through consumer app stores rather than through enterprise sales or remittance agent networks. The company is privately held, employs 11–50 people, and has not publicly disclosed external funding rounds, which together with the regulatory buildout and global corridor coverage positions it as an early-stage but broadly distributed cross-border payments platform.

Name

Qwid

Legal name

Qwid Inc.

Website

https://qwid.io

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Qwid, a product of Blinqpay, is a cross-border money transfer and multi-currency wallet platform serving individuals, freelancers, and SMBs across 180+ countries via 50+ currencies and multiple payment rails.

Ownership category

akta.pro rank

Product category

Cross-Border Money Transfer

NAICS

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

SIC

Finance Services (6199)

akta.pro industry

PRIMARYFSAGAKAA

Consumer P2P International Remittances

Financial & Insurance/Financial Technology (Fintech)/Remittance & Cross-Border Money Movement

SECONDARYFSAGAAAF

Digital Payments & Money Movement (ACH/SEPA/FPS, Bill Pay, P2P)

Financial & Insurance/Financial Technology (Fintech)/Digital Banking & Neobanking Platforms

Keywords

• Cross-border money transfers
• Multi-currency wallets
• Virtual accounts
• International remittances
• Currency conversion

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Transaction Fees: Fees charged per transaction based on transaction type, currency, and country. Rates are competitive and affordable per FAQ.
2. Currency Exchange Spread: Revenue generated from the spread between buy and sell exchange rates when users convert between currencies in their multi-currency wallets

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Qwid is a digital money transfer and multi-currency wallet platform that enables users to send cross-border money transfers to 180+ countries, hold balances in 20+ currencies, receive payments via virtual accounts, and convert currency at market rates. It is delivered through iOS, Android, and web apps and serves individuals and freelancers who need to send, receive, hold, and convert money internationally.

Product overview

Qwid is a unified multi-currency financial platform offered as a single integrated product. The platform combines Personal and Freelance account types with core features including multi-currency wallets, virtual accounts, international money transfers, currency conversion, and request money functionality. Users can hold and move money in 50+ currencies across 180+ countries through a consolidated interface without needing multiple bank accounts.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Account Personal account for individuals who need to send money abroad, hold balances in multiple currencies, and convert funds. Available to Individual sign-ups on the Qwid platform.
• Freelance Account Account designed for freelancers and independent contractors to receive international client payments via virtual accounts, hold funds in multiple currencies, and convert to local currency.
• Multi-Currency Wallets Digital wallets that allow users to hold balances in 20+ currencies within a single Qwid account, enabling in-app currency holding and conversion.
• Virtual Accounts Local virtual accounts that let users receive payments as if they were domestic in multiple markets, supporting inbound cross-border payments for freelancers and individuals.
• International Money Transfers Cross-border money transfer service that lets users send funds to 180+ countries via the Qwid mobile or web app, with fees varying by transfer type, currency, and destination country.
• Request Money Feature that lets users request payments from other parties through the Qwid platform, supporting inbound peer-to-peer payment flows.

Quantifiable outcome

• Transfer to virtual account reflects immediately
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature5 records

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• PayPal (Xoom): PayPal's Xoom service provides cross-border remittances and mobile wallet transfers across hundreds of corridors, embedded within PayPal's global payments network. It is a broad incumbent comparable to Qwid on remittance functionality.
• Western Union: Western Union is the global incumbent in cross-border money transfers, operating across 200+ countries with both digital and agent-based channels. It sets the competitive baseline Qwid must beat on coverage and trust.

Direct peers

• Airwallex: Airwallex is a multi-currency business account and cross-border payments platform serving SMBs and enterprises globally. Its virtual accounts, multi-currency wallets, and global payment-rail integrations map closely onto Qwid's product architecture.
• Nium: Nium provides real-time cross-border payments and multi-currency accounts for businesses and fintechs across 190+ countries. Its global rails and virtual account infrastructure mirror Qwid's stated architecture and corridor coverage.
• PaySend: PaySend is a digital remittance platform offering low-cost cross-border transfers to bank accounts and mobile wallets globally. It competes with Qwid on similar P2P and small-business remittance corridors.
• Remitly: Remitly is a digital remittance platform focused on consumer P2P international money transfers, particularly from North America and Europe to emerging markets. It directly overlaps with Qwid's core remittance proposition and target corridors.
• Wise: Wise is the leading cross-border money transfer and multi-currency account platform, serving both individuals and businesses across hundreds of corridors. It is the most direct competitor to Qwid in cross-border transfers, multi-currency wallets, and virtual account functionality.
• Payoneer: Payoneer provides cross-border payment receiving accounts and multi-currency wallets for freelancers, SMBs, and marketplaces. It competes directly with Qwid's freelancer and business-account proposition, especially the virtual account functionality.
• WorldRemit: WorldRemit provides digital cross-border money transfers to bank accounts, mobile wallets, and cash pickup points across 130+ countries. Its mobile-first remittance model is closely comparable to Qwid's app-led transfer experience.

Emerging players

• Revolut: Revolut offers multi-currency wallets, international transfers, and business accounts through a single app-based platform. While it is broader (consumer neobank), its cross-border and multi-currency functionality overlaps materially with Qwid.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights4 records

Customer concentration

• Xx.com/qwidapp
• LinkedInlinkedin.com/company/qwid-appf
• Instagraminstagram.com/qwidapp?igshid=MzRlODBiNWFlZA==
• TikToktiktok.com/@qwidbyblinqpay?_r=1&_t=ZS-93fhIsQ11LM

Compliance5 records

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 Qwid