Firstbase today announced a partnership with Wise (LON: WISE)—the global technology company that built the best way to move money around the world—to integrate the Wise Platform API into Firstbase Loop. Now any business can experience seamless account creation and verification with Wise directly through the Firstbase platform. Firstbase makes it easy for anyone in the world to incorporate a company in the U.S., while Wise makes it possible to instantly move money abroad more with lower exchange fees and other costs than traditional banking solutions. The tens of thousands of existing businesses on Firstbase now have a fast and affordable way to send money internationally, joining the 13M people and businesses using Wise—processing over $8B in cross-border transactions every month and saving customers over $1B a year by using the real exchange rate.
“Wise ensures that all businesses have a trustworthy and transparent solution to send money abroad, which is now accessible within the Firstbase operating system,” said Ryan Zagone, Americas Partnerships Lead at Wise. “By integrating with Firstbase Loop, newly incorporated companies around the globe can now send money safely and with ease.”
Research conducted by Wise discovered that 46% of small businesses around the world operate internationally. Over half (51%) reported that the complexity of making and managing international payments is a major deterrent to either venturing or further expanding overseas. Ninety-five percent of the companies that incorporate with Firstbase onboard a business banking product. Over 80% of these companies that incorporate using Firstbase come from 180+ countries, with the largest markets including India, the United Kingdom, Nigeria, Pakistan, and Canada. As such, Firstbase customers require a cross-border, multi-currency financial solution that keeps pace with their company’s global footprint. Now with Wise seamlessly integrated into Firstbases’s all-encompassing platform, affordable international payments are readily available to match the digital demands facing today's founders.
“The global reach of Firstbase companies means we need financial solutions that work across the world, and that’s exactly what Wise offers our platform,” said Firstbase CEO and founder Mark Milastsivy. “Now any U.S. entity that Firstbase serves has an international money transfer solution they can count on with Wise.”
Firstbase users can now view the Money Transfer category in their dashboard, learn more about Wise, and sign up with one click.