START-UPS

/ Grow your business

not your bank's profits

Launching a business is both rewarding and challenging. Banking relationships are crucial at this early stage, however when it comes to all things currency it is unlikely your bank will be acting with your best interests at heart. Start ups leverage our experience and technology to act as a treasury function for them, we work for you rather than against you at a time when you have many plates to spin. As a certified Benefit Corporation we have made a legal commitment to never put your interests ahead of our own. This means you can be safe in the knowledge we will always act in your best interests, as well as making a positive impact on the environment and society as a whole. For a lot of new businesses with a foreign exchange exposure, it can take several years of trial and error and lots of mistakes before they begin to get to grips with the often self serving approach of banks and brokers. Speak to us today to arrange a full unbiased review of how foreign exchange can and will affect your business as you grow.



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/ Grow your business,

not your bank's profits

/ Leverage our experience

Launching a business is both rewarding and challenging. Banking relationships are crucial at this early stage, however when it comes to all things currency it is unlikely your bank will be acting with your best interests at heart. Start ups leverage our experience and technology to act as a treasury function for them, we work for you rather than against you at a time when you have many plates to spin. As a certified Benefit Corporation we have made a legal commitment to never put our interests ahead of yours. This means you can be safe in the knowledge we will always act in your best interests, as well as making a positive impact on the environment and society as a whole. For a lot of new businesses with a foreign exchange exposure, it can take several years of trial and error and lots of mistakes before they begin to get to grips with the often self serving approach of banks and brokers. Speak to us today to arrange a full unbiased review of how foreign exchange can and will affect your business as you grow.


/ Why do start-ups work with us?


A case study:

in 2018 Michael and Chris created a company to develop and distribute a unique environmental solution that generates power from the kinetic energy of the ocean. They came to us after becoming disillusioned and frustrated with the lack of service and guidance provided by their bank.

They encountered a number of problems using their bank. Firstly, they were not given any guidance regarding their initial seed funding. This was received in USD as their initial investors were based in the US. The USD was paid straight into their sterling account which resulted in a big reduction in the amount of funds they had expected to receive to help them develop their product, as well as a large profit for their bank. They also have ongoing costs to pay in Europe and Asia for parts and rounds of testing for their product. Again, they received no guidance on how to approach these payments and were given an extremely poor rate whenever they had to make them.

/ Why do start-ups work with us?

Case study: An early stage sustainable energy solution

in 2018 Michael and Chris created a company to develop and distribute a unique environmental solution that generates power from the kinetic energy of the ocean. They came to us after becoming disillusioned and frustrated with the lack of service and guidance provided by their bank.

They encountered a number of problems using their bank. Firstly, they were not given any guidance regarding their initial seed funding. This was received in USD as their initial investors were based in the US. The USD was paid straight into their sterling account which resulted in a big reduction in the amount of funds they had expected to receive to help them develop their product, as well as a large profit for their bank. They also have ongoing costs to pay in Europe and Asia for parts and rounds of testing for their product. Again, they received no guidance on how to approach these payments and were given an extremely poor rate whenever they had to make them.

/ The solution?

The first thing we did was set them up with a local USD account for in country collection of their A, B and C funding rounds. This meant no costly auto-conversion of their USD into GBP, immediately giving them thousands of pounds extra towards development and investment into their product compared to their bank. it also gave them complete control over when they converted their USD and how much. We helped them with the timing of these conversions, something their bank were unable to do, as well as how much to convert. We looked at their costs in Asia which are in USD and then worked out how much they could naturally hedge, saving them thousands on additional unnecessary conversions. We then looked at their schedule of EUR costs and remaining USD costs and worked with them to develop a risk management strategy to manage them. Finally we set them up with a EUR account and enabled them with our mass payment facility for paying their numerous suppliers.


Ultimately none of the recommended solutions are necessarily unique to Cornerstone FX on their own. The difference was that in the short term it was not financially beneficial for the bank to recommend them, or to combine them with a more holistic approach to helping Michael and Chris manage their currency exposure. Banks and to a large degree many brokers all too often take advantage of this type of situation. This is where Cornerstone FX differ, we build long term relationships based on always putting your interests at the heart of everything we do.

/ The solution?

The first thing we did was set them up with a local USD account for in country collection of their A, B and C funding rounds. This meant no costly auto-conversion of their USD into GBP, immediately giving them thousands of pounds extra towards development and investment into their product compared to their bank. It also gave them complete control over when they converted their USD and how much. We helped them with the timing of these conversions, something their bank were unable to do, as well as how much to convert. We looked at their costs in Asia which are in USD and then worked out how much they could naturally hedge, saving them thousands on additional unnecessary conversions. We then looked at their schedule of EUR costs and remaining USD costs and worked with them to develop a risk management strategy to manage them. Finally we set them up with a EUR account and enabled them with our mass payment facility for paying their numerous suppliers.


Ultimately none of the recommended solutions are necessarily unique to Cornerstone FX on their own. The difference was that in the short term it was not financially beneficial for the bank to recommend them, or to combine them with a more holistic approach to helping Michael and Chris manage their currency exposure. Banks and to a large degree many brokers all too often take advantage of this type of situation. This is where Cornerstone  FX differ, we build long term relationships based on always putting your interests at the heart of everything we do.

All testimonials, reviews, opinions or case studies presented on our website may not be indicative of all customers. Results may vary and customers agree to proceed at their own risk.

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