Currensea is the UK’s top rated travel debit card, which works with your existing bank account.
Business overview
Location | Berkhamsted, United Kingdom |
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Social media | |
Website | currensea.com |
Sectors | Finance & Payments Digital Mixed B2B/B2C |
Company number | 11413946 |
Incorporation date | 13 Jun 2018 |
Investment summary
Business highlights
- The UK’s first Direct Debit Travel Card
- Over 120k cardholders
- Growing by over by 8k cardholders per month*
- Used every 9 seconds somewhere across the planet**
Key features
Pitch
About the Campaign
Fed up with bank charges when spending abroad, the founders had tried pre-pay cards and secondary bank accounts. But the faff of endless topping up, separate balances, and embarrassing card declines meant these options became a pain.
Currensea is the UK’s first direct debit travel card. It works directly with your existing bank account, so you can simply spend abroad as you do at home - But without the bank fees.
*Based on March - May 2024 performance.
**Company calculation based on April 2024 transaction data.
Business Model
Currensea has multiple revenue streams:
• Interchange - paid to Currensea by the merchant when the card is used
• FX - a 0.5% spread over the Interbank rate on our Essential card
• Subscriptions - annual charges for our premium cards
• Transfer FX - a 0.5% spread on international transfers
• CoBrands - subscription based revenue
But also low costs - We’re scaling fast and maintain our top customer ratings, but still have less than 25 team members. Our focus is on automating and staying lean.
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