Supporting online businesses to expand globally
CurrentBody are an online destination for home use health and beauty technology, who offer a large selection of safe, clinically proven electrical health and beauty products. Having undergone significant international expansion, CurrentBody now have 11 websites and ship to customers in over 100 countries.
By using Currency//UK to pay their international suppliers, CurrentBody have been able to take control of the foreign exchange element of their business by converting funds at a much more competitive rate than that offered by their bank.
In addition to this, we have been able to provide a solution that enables CurrentBody to lock in exchange rates and protect their bottom line through the use of forward contracts. This was particularly relevant with the UK Election in December 2019, where market volatility could have affected the company’s profit margin significantly. Using a forward contract enabled CurrenBody to mitigate that risk.
COO and Co-Founder, Andrew Showman states, “We’ve been using Currency UK for several years now when we realised we could make big savings compared to the rates offered by our bank. They offer a very fast and efficient service and would be happy to recommend them to any company with foreign exchange requirements.”