Company: Atlantic Money
Website: https://atlantic.money/gb
Business: A simple, slick and cost-effective way of moving money across borders.
TechRound’s Tech Leaders of 2022 aims to platform leaders in the technology space and illustrate the depth of talent in the industry. We urge you to celebrate the strides that each individual and company is making in their field, and get inspired!
From the Metaverse and Web3 to SaaS and HealthTech, or EdTech and FemTech to Crypto and Retail, there’s people paving the way in each corner of the technology sector.
About Neeraj Baid & Patrick Kavanagh
Patrick studied finance at the University of Washington before working with some of the world’s leading quantitative hedge funds. Whilst launching quantitative trading firms, Patrick met the would-be founders of Robinhood, becoming one of their first angel investors in 2013. He eventually joined Robinhood full-time, where his role included special projects, partnerships, recruitment and building and executing the business’ cryptocurrency strategy. In his last two years he led the international team, where he studied major fintech markets and verticals across Europe. Patrick left Robinhood pre-IPO in 2020 to co-found Atlantic Money to target the largest segments within financial services that remain vulnerable to disruptive business models, leveraging his wealth of experience in the process.
During his time studying Computer Science at UC Berkeley, Neeraj was introduced to the 15-strong team at Robinhood, a new digital trading platform democratising investment and bringing commission free trading to retail investors. Neeraj started at the company in May of 2015, completing his degree in parallel. After two years in engineering, Neeraj moved into product management where he focused on brokerage, crypto and international expansion. A leading achievement includes bringing crypto (including Dogecoin!) to Robinhood, marking the first-time investment in both traditional assets like stocks and innovative products like crypto were offered side by side. Neeraj left Robinhood pre-IPO in 2020 to co-found Atlantic Money to target the largest segments within financial services that remain vulnerable to disruptive business models, leveraging his wealth of experience in the process.
About Atlantic Money
Atlantic Money’s is the most simple, slick and cost-effective way of moving money across borders. Its fixed flat fee of £3 undercuts incumbent money transfer providers and saves customers 75% compared to the firm’s nearest priced competitors, like Wise – and up to 99% when compared to other providers like PayPal, Western Union, OFX and Co.
Co-founders Patrick Kavanagh and Neeraj Baid, who were early employees at trading giant Robinhood, launched the business after noticing a divergence in global FX between retail & institutional transfer costs. Whilst large financial institutions move unlimited money around the world at effectively zero cost, securing the live exchange rate by working directly with one another, retail customers are still being charged progressive fees & unjustifiable exchange rates by the most ‘cost-effective’ providers – getting a worse deal when they send more money. And yet, the cost of sending money internationally is largely fixed per transaction – even when sending large amounts.
Atlantic Money brings pricing previously reserved for the banks to its customers, driving the cost of larger transfers dramatically lower – sums over £1000 – up to 99% lower than all other money transfer companies.
