Portfolio Details

Freemarket

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Freemarket is a leading fintech platform for regulated B2B cross-border payments and currency exchange. Founded in 2011, Freemarket provides its customers with reliable and efficient B2B cross-border payments through its proprietary technology platform. Freemarket provides its customers with the ability to send funds to over 100 countries and in more than 140 currencies.

A number of characteristics attracted us to invest in the business, including its:

• Attractive market backdrop – The cross-border B2B payments market is large, fast-growing and resilient across economic cycles. Technology-led providers are taking share from the traditional banks, which is providing substantial opportunity for independents to achieve strong revenue growth.
• Strong value proposition – Freemarket’s technology and banking relationships provide customers with increased flexibility, oversight and access to better pricing versus other solutions on the market.
• International growth – At the time of our investment, Freemarket was in the process of seeking approval for its Irish banking license, which would provide market access to the entire European Economic Area. This license has now been granted, and we believe further opportunities exist for international expansion, where Baird Capital can leverage its experience and resources to support.
• Founder-run team – Freemarket’s highly committed founder team fits with our focus on supporting founder-managers as they scale their business to the next level.

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