A Nottingham based financial services company is celebrating its first year in business by opening offices in Dubai, New York and Singapore.
Whitesfx based in Colwick Nottingham, began trading in June 2012, and after achieving 50 per-cent growth month on month, is expanding overseas in the next phase of its global development programme.
The brainchild of Jack Horton (25) and Freddie Reid (24), Whitesfx provides companies that make international payments with the ability to save money by giving them better exchange rates than the major banks and market competitors.
Jack Horton, director at the company said: “Since starting the business last year, we have seen unprecedented growth despite the recession and the market for those seeking better exchange rates remains strong.
“We do a lot of business in Singapore and Dubai and have very strong margins with US Dollar so we are making big strides into the US using the New York office as a base for expansion.
Starting from humble beginnings, Whitesfx had to wait six months to get registered with the FCA and also struggled to open bank accounts because of the state of the economy and the nature of its business, but despite economic struggles, the firm is delighted to be expanding overseas at such a rapid rate.
Feddie Reid, also director at the firm added: “We provide a much more personal service than our competitors, along with much better prices because we are not based in the city centre with massive headquarters. We believe that this has been central to our success here at Whitesfx.
When asked of their future plans, the duo added: “We aim to outperform our nearest competitors and to increase our market share in a very competitive market.”
