BCRemit – Supporting migrants

For Oliver Calma, Founder & CEO of BCRemit, solving the problem to assist migrant workers to send their money to their families back home is personal. BCRemit, a London based FinTech, provides online money transfer services to provide a secure, fast and convenient way to transfer money instantly, with minimal fees. Click here for details about BCRemit

The opportunity to explore expansion into the US market has been a priority for some time for Oliver. Before he joined FD Global Connections’ NYC Immersion FinTech Program, the move had been on the cards, but without the right research and knowledge, there was no concrete plan in place.

The first two days of the program, where scaleups were able to participate in deep-dive workshops, were hugely important for BCRemit, in terms of educating the team on the structures and requirements for a US move. The workshops on the right legal structure were particularly important as the United States is an entirely different world to the UK market. As a foreign entity, there are a broad range of challenges that BCRemit was made aware of.

Because BCRemit operates in a highly regulated business vertical, having an overview of the regulatory landscape between the different state and federal structures was a vital advantage.

Aside from the workshops, the BCRemit team benefited from meeting with a potential banking and industry partners, and the introductions to investors, in particular, made a huge difference.

BCRemit is continuing their discussions with the partners that they met and have begun planning for their next steps. The program was even able to introduce the UK company to people with whom they could work directly on their expansion, even finding potential candidates for their first US team members. The introductions that FD Global made were too knowledgeable and gifted people, in terms of their specific areas of expertise, and working with them directly or bringing them into the BCRemit family is something that they are now actively considering.

In a week-long program, Oliver found it was incredibly useful to expand its American network and tap into a faster route to connecting with the New York ecosystem.

“I think the program has been very useful for us, particularly in terms of our plans to expand,” said Oliver.

“The experience during the program was very good. Trena (FD Global CEO) was extremely supportive, not just of our company but for all the other scale-ups, and we did very well to have gained a good insight into expanding into the United States market. I cannot recommend the program enough.”

This 2019 New York City “Fintech” Immersion Program was generously sponsored by Discover Global Network

If your business is scaling into the USA, you can learn more about FD Global Connections 2020 New York City Immersion Programs, and other services we offer to support your US expansion, by going here: 2020 NYC Immersion Programs