New Fintech start-up Forexfix hedges SMEs against currency risks

Forexfix.com offers simple & fast online solution to hedge against exchange rate fluctuations worldwide and thus differentiates itself from the competition.
The innovative platform offers SMEs up to 4 times cheaper solutions for payments in foreign currencies than traditional banks

With Forexfix you can transfer and hedge thousands of small amounts - no minimum amounts or minimum number of transactions
Brexit, Trump & Erdogan. Every day we receive new news that causes more uncertainty & volatility in the foreign exchange markets.
The big loser: the German middle class.
With a 45% share of total German exports, small and medium-sized enterprises (SMEs) are primarily responsible for Germany's export strength. More volatility in the currency markets now means more risks for the very internationally operating companies that would have to be hedged.


Banks don't solve the problem.
While, according to the current McKinsey study, they generate a hefty net turnover of 80bn euros for foreign payments through fees that are sometimes hidden, banks are increasingly withdrawing from hedging for SMEs.
The consequence: huge losses are imminent (see case study)

This is where the dynamic Fintech Start-Up Forexfix comes in.
With global exchange rate hedging and innovative solutions for foreign payments, they bring a breath of fresh air to the financial sector.
Forexfix goes a decisive step further than most of its competitors, especially with the product of uncomplicated online exchange rate hedging through forward exchange transactions.
With a few clicks SMEs can now hedge themselves against currency risks globally on Forexfix.de and no longer have to worry about their profit margin.

"Especially in times of increasing exchange rate fluctuations, it is all the more important for SMEs to secure themselves sufficiently. However, banks still do not offer the right solutions - that's why we're doing it now," explains Robert Kröber, founder and CEO.
In addition, the founders discovered a second problem in the industry:
Foreign bank transfers are complicated, take days to weeks and in the end you can be happy about hidden fees.
Due to the high, partly hidden, fees, the business of foreign payments remains highly profitable for banks - at the expense of the customers, of course.
On the user-friendly & transparent web platform of the Berlin start-up, entrepreneurs can process foreign payments in 30+ foreign currencies in over 100 countries more cheaply and easily than via traditional banks.

Decisive here: Forexfix is 4x cheaper on average than conventional banks!
While banks at various locations do not charge a basic fee or transfer fee, Forexfix uses the real exchange rate (midmarket rate) for foreign payments with a simple surcharge of 0.4%: all-inclusive of course.
All costs are independent of the country to which payment is made.
Another decisive advantage of Forexfix: unlike many financial service providers, Forexfix does not require a minimum amount to be hedged per transaction nor a minimum number of transactions. This makes customers more flexible and only transfer or secure the amount they really need.

The growth of the Berlin start-up proves the founders right: In the meantime payments in more than 65 countries are processed via Forexfix and within the last two months alone the number of active companies has already increased by more than 85%.
However, the team is not resting on its current success:
"A decisive step into the future is the current connection of ERP systems such as SAP, Microsoft Dynamics, etc. with our system - i.e. the direct connection of invoice-relevant company data. This enables customers to automatically hedge currency risks and make foreign payments from their known applications. Companies thus have an "all-round carefree package" with which it is easier than ever before to operate the correct currency management. "explains Gerhard Maringer, founder and CTO.

About Forexfix
Forexfix is a Fintech startup from Berlin, founded in 2016 by an experienced team of bankers and developers. The management has over 30 years of experience in large companies such as KfW Bank, the management consultancy McKinsey and the financial services provider Hypoport.
The clear goal of the Berlin-based company:
revolutionize the non-transparent financial sector and create efficient, fair and transparent financial solutions for SMEs and thus support their customers in their international growth.

Further information about the team can be found on our website: www.forexfix.de

Translated with www.DeepL.com/Translator

We make international growth easier!
Medium-sized companies are internationally active and very successful. However, there are currency risks in international business. Political events such as the euro crisis and the Brexit have made these much more important.

Established banks do not help. They are even increasingly withdrawing from business with medium-sized companies. That's why we started Forexfix. Our clear goal is to revolutionize the non-transparent financial sector and create efficient, fair and transparent financial solutions for SMEs.

With our expertise in finance and technology, we develop a product that enables small and medium-sized companies to hedge their currency risks online quickly and easily. In this way, we help SMEs to significantly minimize their risks and support our customers in their international growth.

Translated with www.DeepL.com/Translator

Philipp Stegmann

FOREXFIX GmbH
Rosenthaler Str. 2
D-10119 Berlin
Phone: +49 30 1208 3151

This release was published on openPR.