FairFX rebrands as Equals
Foreign exchange business, FairFX, is to rebrand as ‘Equals’ to reflect its product diversification, reports Jane Connolly.
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Founded in 2007 as a business current account, prepaid currency card, travel money and international payment services provider, FairFX has seen strong growth in recent years.
The rebrand follows the company’s evolution into an integrated money management solution for both consumers and businesses, including banking, payments and travel money.
All FairFX products will move to the Equals brand by the end of the year. This summer the new Equals Go travel card will be introduced, enabling users to buy and hold 15 currencies on one card. Further new products for SMEs will be announced later in the year.
CEO Ian Strafford-Taylor says: “The timing is right for our next stage of growth – banks are continuing to offer fees that are not competitive, and although there is an increasing swell of fintechs gaining market share in isolated verticals, there’s a swathe of people and businesses who are underserviced by both. That’s where we’ll help.”
He adds: “We’ve built confidence and trust in the market over the years and now we’ve reached profitability, this is the next step in our evolution. The rebrand allows us to harmonise our existing products before stepping forward with a broader offering for businesses and consumers.”
The company listed on the AIM market of the London Stock Exchange in 2014, became profitable in 2017 and achieved a turnover of £2.3 billion last year.
