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Wednesday, 06 September, 2017, 16 : 00 PM [IST]
Myforexeye launches India’s first full-service foreign exchange mobile app
By TBM Staff | New Delhi

Myforexeye, a one-stop shop foreign exchange solution provider has launched India’s first full service Forex Exchange Mobile App to simplify forex exchange for traders, business communities and individuals. The company has been working towards simplifying Forex and is aiming at disrupting INR 60,000 crore windfalls made by intermediaries on the name of information arbitrage.

Myforexeye Mobile App is currently offering the widest range of features such as buy/sell Forex online, Transaction Process Outsourcing (TPO), Transaction Forex Risk Management, International Trade Finance, RateAudit and RateCheck. This App is a complete FX ecosystem offering Alerts, Real-time Rate Check, Single click dealer connect, Research, Transparency, Time bound activity, Rate Audit and a plethora of other services.

Speaking on the launch of India’s First Full Service Forex App, Anand Tandon, Founder, Myforexeye Fintech Pvt. Ltd. said, “For both individuals and business communities, mobile phones and smart devices are quick, safe and reliable platforms for operations and transactions in today’s digital world. We are confident that our Forex Exchange Mobile App will offer enhanced user experience, transparent market operations and complete audit trail for B2B and B2C segments in India. Our App aims at providing complete forex exchange solutions in just one click for customers.”

“Through this unique technology enabled platform, we are also connecting our clients to the best of the experienced dealers to get things done. To ensure the data safety we are using the world class security technology with the highest of the standards,” he further added.

Myforexeye has aggressive growth plans and looking at expanding its operations across India and other countries in the next 5 years. The company has recently raised pre-Series A funding of USD 2.2 Lac approximately INR 140 Lac from a clutch of individual investors. These funds would be utilised to further develop innovative technology solutions so to bring in more transparency, enhance user experience and ensure seamless transactions for Indian exporters, importers, individuals (B2C) like NRI's, travellers etc.

In the last 30 months, Myforexeye has serviced 1000+ clients, processing 50,000+ transactions worth $2.1 billion resulting in a saving of more than INR 75 crore to its B2B and HNI clients spreading over 53 banks. From the clientele base of 600 with 3 branches across the country, the company is aiming for more than 15,000 B2B & a 0.5 million B2C clientele base by opening 105 branches across 65 cities by 2021.