Neeraj Baid, Co-founder and CEO of Atlantic Money, noted that his firm has been acquired by Deel, the all-in-one payroll and HR platform for global teams.
Baid also mentioned that when they launched Atlantic Money two years ago, their goal was to create the world’s “best” and most “affordable” money transfer solution for individuals and companies. They added that thanks to early supporters, they’ve made a lot of progress – moving over “half a billion pounds for more than 10,000 global customers while saving people millions in fees compared to former disruptors.”
Baid further noted that while he’s quite pleased about Atlantic Money’s journey so far, he’s even more excited for this next chapter as they join Deel’s talented team.
He also stated that that he’s looking forward to seeing the new services their teams develop together. They further explained that joining Deel allows them to combine their innovative and efficient approach to offering financial services with Deel’s comprehensive platform, ultimately “enhancing the financial ecosystem for businesses operating globally.”
Deel’s mission is to make running a global business “as easy as running a local one, and that includes helping workers make global payments securely and easily.”
Their team looks forward to working alongside Deel’s experts to share insights and develop technologies “that will benefit companies managing international workforces.”
For Atlantic Money customers, their account, transfers and security remain intact.
As covered in September of 2024, Atlantic Money had noted that we’re in an era where Fintechs become increasingly bloated with ancillary products and spend years integrating their platforms with third parties like banks. However, UK Fintech Atlantic Money took a step in the opposite direction.
With the launch of Portals, Atlantic Money allows users to make international transfers directly “from their bank account and with the fintech’s network but without needing the fintech’s app.”
Users can access the Atlantic Money network from their main bank account, making transfers with Portals as convenient “as SWIFT but still as cheap as Atlantic Money’s fixed fee pricing of £3 per transfer.”
Portals’ innovation lies in its simplicity. After a one-time setup, users receive a unique “set of Portal accounts for each recipient.
A USD recipient’s Portals include both GBP (sort code + account number) and EUR (IBAN) Portals.”
