Startup Stories: Kwanji

Startup Stories: Kwanji

by Mark Selby, 11 January 2019

Of all the business models to flourish in the online revolution, the price comparison site was one of the earliest to take advantage of the unique capabilities afforded by the internet.

UK-based Kwanji – a platform that allows the real-time comparison of deals from regulated brokers and banks competing for Forex business – honed their craft at Innovation Warehouse.

Founded in 2013 by Leslie Onyesh (CEO) and William Lorenz (COO), Onyesh identified that SME businesses were at a significant disadvantage when trading internationally because they lacked the expertise or resources to source the best deal.

The two cofounders joined Innovation Warehouse in August 2013 after meeting the senior members at a networking event. They were invited to trial the space for a free period and stayed on due to the atmosphere, which they describe as “different and innovative, especially compared to offices in West London.”

While based at the coworking space, Kwanji found test customers and staff members through conversations with other residents. They also received funding through the Seed Enterprise Investment Scheme (SEIS), led by a consortium of investors.

The Kwanji marketplace platform simplifies foreign exchange mechanism for SMEs by removing the complexities, inefficiencies, manual data entry and high fees when making of receiving international payments.

The platform allows all businesses to compete on a level playing field, regardless of their size or location. Kwanji allows its clients to make payments across 200 currencies and 80+ countries.

Now based in Woking, their revolutionary Forex platform provides an online portal through which SMEs can access cheap Forex rates in a quick and painless manner. This was the first step in its mission to make global trade easier for every business, regardless of size or location.

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