Hélie d’Hautefort tells StartUp Spotlight about his idea for a new way to move money and pay abroad: no matter the country or the currency, GLOBCOIN® will keep you covered.
What’s the elevator pitch?
GLOBCOIN® is a fintech start-up based in London and Geneva which specialises in multi-currency payment. Offering a prepaid card which allows all travellers to pay, transfer, and withdraw in multiple currencies without any fees, GLOBCOIN® democratises and facilitates access to the global currency market by enabling anyone to easily make purchases abroad.
Why we should keep an eye on it
GLOBCOIN® introduces a whole new dimension to the financial industry by offering a new way to manage foreign currencies. Inspired by global exchange rate boundaries, the company offers a revolutionary solution to provide access to the professional foreign exchange market for all travellers, students, online shoppers, and expatriates.
The GLOBCOIN® solution notably supports students studying abroad, helping them to save money when paying, withdrawing, and transferring money in different currencies. Thanks to its business model, GLOBCOIN® enables anyone travelling abroad to become a local customer by using a service traditionally used by banks.
The GLOBCOIN® multi-currency account also offers a wide range of services from platinum insurance to a VIP pre-trip concierge service, as well as new services to be announced soon. Given the prevailing economic and political uncertainties, the GLOBCOIN® experience provides a guarantee of safety while planning travel budgets, without being subjected to currency fluctuations and hidden bank fees.
The story and the people behind the startup
Created by a team of experienced foreign exchange professionals, GLOBCOIN® was founded by its CEO Hélie d’Hautefort.
Hélie is a specialist in the foreign exchange market and also a successful entrepreneur, as his previous company was bought out by one of the top five global leaders in the sector. In 1998, he founded the company Overlay Asset Management, the first company to offer foreign exchange risk management on behalf of third parties based on the US model of currency overlay.
He sold it to BNP Paribas in 2001, while remaining CEO for more than 10 years. With prestigious institutional clients from different continents, the company reached 23 billion dollars of assets under management in 2011.
Previously, he was responsible for the foreign exchange risk management of Peugeot PSA international group for five years in Geneva. He began his career as a forex trader in New York. Hélie is a frequent speaker at conferences on foreign exchange risk issues and has written several academic articles on the subject. He is also a graduate of HEC Paris.
Have you managed to get funding? How?
Yes. So far, we have been funded by friends and family, but we are in the process of initiating a new round with private investors and VCs.
What happens next? What’s the long-term ambition?
GLOBCOIN®’s goal this year is to increase its customer base and add new services such as global Wi-Fi access for travellers. The GLOBCOIN® team is currently working on building more currencies into their software, to be available in Q3 2017.
New services based on blockchain technology will be announced soon, showing the long term commitment of GLOBCOIN® towards innovation and the best customer experience for its clients.
StartUp Spotlight is a monthly column where LSBF speaks with the leaders of young start-ups and businesses to inspire the next generation of entrepreneurs.