World First UK Limited (World First), a leading provider of foreign exchange, international payment and hedging solutions to corporate and private clients, has completed the sale of a minority stake to FTV Capital, a US-based growth equity investor with a strong track record in payments, transaction processing and financial services. Financial details have not been disclosed.
Founded in 2004 and headquartered in London, World First provides international currency, payment and hedging solutions to its clients throughout the world. The company provides its customers with a superior foreign exchange experience by utilizing a proprietary technology platform that automates and streamlines transactions, enabling customers to enjoy better rates and faster transactions. The flexible, user friendly platform is supported by award winning customer service. As the economy becomes increasingly global, World First is uniquely positioned to address the growing international payment needs of corporate and private clients.
“As one of the fastest-growing companies in the foreign exchange market, World First has distinguished itself with a strong management team, innovative culture, leading market position and unique value proposition,” said Brad Bernstein, FTV Capital partner and new World First board member.
Jonathan Quin, co-founder and CEO of World First, said: “We look forward to working with our new partner, FTV Capital, a firm that has the experience and resources to help support the continued success of World First – we believe this will help us to accelerate our expansion plans significantly.”
Nick Robinson, co-founder and Vice Chairman added: “FTV Capital has a strong reputation as a long-established and accomplished investor in the payments and financial services space. The FTV team brings a deep understanding of this complex market, as well as a distinctive group of strategic relationships that will help our organization achieve our plans for expansion, especially in the US.”
Oaklins Cavendish, based in the UK, acted as advisors to World First throughout the investment process.
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