Moneytrans, a fintech startup based in Brussels, has received €11 million in a new growth equity round.

“The cheapest and most convenient way to transfer money, whether it’s to help family members or pay for services overseas,” says the platform, which concentrates on serving migrants.

The new funds will be used to help launch a newly created product for the neo banking industry that is specialized in the remittance and working migrants markets.

Moneytrans has let over 10 million consumers send and receive money virtually instantaneously via digital methods or a European retail network of 3,000+ branches, which are subsequently linked to over 500K+ payout sites in over 140 countries globally.

“We look forward to increasing and scaling the reach of our products to serve migrants globally and develop their financial inclusion,” stated Jeremy, Moneytrans CEO.

Moneytrans’ vision is as follows:

Remittances are a critical component of many families’ economic sustainability, lowering poverty and improving the quantity and quality of health and education.” We were founded out of a desire to promote and facilitate remittances from Europe by providing high-quality service at a low cost.

Since then, we’ve never ceased developing to anticipate our clients’ demands. Our guiding principle is to make their life easier by creating living services that are available via an intuitive mobile application and bring them closer to their loved ones.”

Today, we’re taking it a step further by inviting our community to join a true revolution, the Smile revolution, aimed at simplifying banking and easing our clients’ assimilation into their host country.

Image Credit: Moneytrans

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