The funding spherical was led by world expertise funding agency Battery Ventures, an investor in a variety of US-based fintech corporations.
The service, which claims to saves customers on common 1-6% in transaction commissions per 30 days, is launching initially in Mexico. Higlobe fees a month-to-month subscription payment as little as $4.99 for a US receiving checking account, whatever the variety of transfers made.
“Our mission is to maneuver the world’s cash immediately and without charge to assist the more and more world workforce get extra money again to their dwelling checking account,” saiys CEO and Co-founder Teymour H. Farman-Farmaian, who leveraged his expertise at Spotify to construct Higlobe as a subscription-based funds platform. “Our purchasers solely pay a hard and fast, low-cost subscription for a US receiving checking account whatever the variety of transfers they make.”
Higlobe solely makes use of stablecoins issued by corporations which might be regulated and supervised by US federal or state businesses and which might be 1:1 backed by US {dollars} or US authorities treasury securities.
“Higlobe’s distinctive utility of stablecoin is poised to disrupt the worldwide funds trade,” says Battery’s Scott Tobin, who’s becoming a member of Higlobe’s board. “The blockchain gives a secure and speedy answer to an archaic system that disadvantages so many staff, and by leveraging this new expertise, Higlobe can change the lives of tens of millions of members of the worldwide distant workforce. We’re excited to accomplice with Teymour and his workforce to scale the corporate and its companies.”,Higlobe, a US startup based by a former Google and Spotify government, has raised $14 million to launch a subscription-based cross-border cash switch service for freelance staff, utilizing stablecoins to switch cash rapidly.,
