Tell us why Freemarket was created and how it differs from other payments companies?
We started our company with the goal of providing UK small and medium enterprises (SMEs) better access to cross-border payment capability. We are now a global company providing access to banking services, from some of the world’s largest institutions to regulated entities and corporations. We’re all about relationships. We take a partnership approach with all of our stakeholders. These include customers, global banks and service providers. Our goal is to provide the best service and solution possible for the benefit of all parties.
Why is gaming the sector that Freemarket chose? Are there any other industries you do business with?
Freemarket exists to help those businesses that either struggle to gain access to the banking and payment services they need, or are paying too much for an inferior service. Historically, gaming has been seen as too high risk for institutional banks to focus on. It’s inevitable that risk appetites in banks will change, which is why our resilient solution resonates so well in this space.
Freemarket had an investment from Baird Capital this year. What has that allowed the company to achieve since then?
We are delighted that Baird Capital has chosen to invest in our business. The extensive and thorough due diligence process that Baird undertook validates the viability of the market we are in and our strategic growth plan. We are excited to be aligned and working with a strategic partner who will play a key part in our high-growth future.
What are the biggest trends you are seeing in the payments industry right now?
Faster, cheaper and more transparent – all the payment trends we are building our future model for align around these key themes. No one can ignore the expectation for real-time payments and we see this proliferating globally. The rise of blockchain technology brings with it use cases for stablecoins and latterly Central Bank Digital Currencies (CBDCs). As ever, ensuring compliance with regulations across the globe will remain a focus as we enter the next technological wave.
What is Freemarket’s focus for the next year?
The cross-border payments market continues to develop at a rapid pace and it is key for Freemarket to not only maintain, but stay ahead of the curve. Diversifying and enhancing key product and service offerings, which support our five target verticals of gaming, payment service providers (PSPs), digital assets, money service businesses (MSBs) and Forex, will remain our focus.
