This Kerala Based Startup is saving people from exorbitant Bank forex rates

“We have a vision, to make currency exchange and money transfer as easy as booking an airline ticket online”, says George Zachariah, CEO, Extravelmoney.com

For a traveller who is set to visit another country or a student who is going abroad to study, a lot of money is to be shelled out. However, we could save money easily by personally going through all the forex dealers in our city, checking their exchange rates and finding the most feasible one. But let’s be honest. Amidst the chaos of packing and last minute travel tasks, who has the times and patience to do such a thorough search for the best forex outlet?

There is a very easy and simple solution for this. Have you ever tried searching for Forex services online?

A complete solution for Foreign Exchange, extravelmoney.com is an online marketplace for foreign exchange services in India. It is a one stop shop for all the forex services you are looking for. You can search for banks and moneychangers near you, compare the exchange rates, know the ratings of each forex store and easily find the total rate of a forex service. Apart from the basic facilities, the platform also provides services like,

  • Freezing Live Rates : Like the current exchange rate shown in the platform? Lock it and it will be valid throughout the day despite the fluctuation in currency rates.
  • Set Rate Alerts : Tight schedule? Cannot keep an eye on the fluctuating rates? Set alerts to receive an SMS or Email when the rates are favourable.
  • Door Delivery : You also have an option of getting your foreign currency or forex card delivered at your doorstep.
  • Zero Commission : Extravelmoney does not charge a penny from its customers, the services provided are completely free!

The company was founded in 2014 by George Zachariah, Ajin Baby, Ashwin Narasimha and Nisanth Issac over George’s idea of making his forex store online. With their advent into the market, they have been able to help customers save an average of 70-80% money spent on foreign exchange. While Thomas Cook and Travelex provide an online forex booking option, this Kerala based start-up has transformed the concept of forex services with their simple and user-friendly platform.

ExTravelMoney’s online forex platform has in-fact found a lot of success with a growing user base. As of May 2017, ExTravelMoney has served 15000+ customers on their platform and assisted in more than 20,000 transactions amounting to a total volume of Rs 35 Crores. The startup jumped ahead in their numbers especially in the days following demonetisation, as people were searching online for ways to buy foreign currency legitimately.

In the professional sphere too, the company has made people in the forex industry look up and take notice since its inception. ExTravelMoney was one among the recipients of “Winners for the Hot100” Technology Awards by Amazon.com & Microsoft Ventures in 2014. In 2016, ExTravelMoney won CISAT – Dr. APJ Abdul Kalam Startup Award (FinTech) and was also one among the finalists of the “India FinTech Awards”. Recently too the company shot into limelight by winning the KMA-NASSCOM IT Awards 2017 in “IT Startup of the Year” category.

Extravelmoney.com has 30 plus tied up money changers in Trivandrum. The outlets are also spread out to Varkala and Attingal. It has tie ups with leading exchange houses like UAE Exchange, Orient Exchange, Muthoot Forex etc, covering more than 4000+ locations in the country. You are likely to find a forex store anywhere in the country using Extravelmoney.com. Extravelmoney is also planning to expand their market overseas very soon.

“We have a vision, to make currency exchange and money transfer as easy as booking an airline ticket online”, says George Zachariah, CEO, Extravelmoney.com

Extravelmoney.com app is available on Android and iOS.

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