OFX

OFX

Digital platform for international money transfers

Overview

OFX provides international money transfer and foreign exchange services through a digital platform for individuals and businesses. It supports transfers in 50+ currencies across 170+ countries via web and mobile apps, with 24/7 currency-expert support and tools beyond spot transfers, such as Forward Exchange Contracts and Limit Orders. For businesses, OFX offers a Global Currency Account for multi‑currency payments and receivables, as well as accounts payable/receivable workflows and white-label transfer services. Its goal is to simplify cross-border payments and currency risk management, backed by a long-running ASX-listed fintech track record and emphasis on multi-currency corporate solutions.

About OFX

Simplify's Rating
Why OFX is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & Analytics

Enterprise Software

Fintech

Financial Services

Company Size

501-1,000

Company Stage

IPO

Headquarters

Sydney, Australia

Founded

1998

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Simplify's Take

What believers are saying

  • $70M Firma acquisition in 2022 added 9,600 corporate clients.
  • Corporate segment now generates over 70% of revenue.
  • Technosis partnership launched multi-currency solution July 2024.

What critics are saying

  • Firma integration fails, causing client churn to Wise within 12 months.
  • ASIC fines halt forward contracts sales in 18 months.
  • Ripple's XRP disrupts FX model, bankrupting OFX in 36 months.

What makes OFX unique

  • OFX combines digital platform with 24/7 human currency expert support.
  • Proprietary global banking network enables fast cross-border transfers.
  • Global Currency Account supports multi-currency holdings for businesses.

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Funding

Total Funding

$413M

Above

Industry Average

Funded Over

1 Rounds

IPO funding comparison data is currently unavailable. We're working to provide this information soon!
IPO Funding Comparison
Coming Soon

Benefits

Remote Work Options

Hybrid Work Options

Paid Vacation

Paid Holidays

Flexible Work Hours

401(k) Retirement Plan

Stock Options

Company Equity

Wellness Program

Mental Health Support

Phone/Internet Stipend

Home Office Stipend

Conference Attendance Budget

Professional Development Budget

Family Planning Benefits

Fertility Treatment Support

Parental Leave

Adoption Assistance

Childcare Support

Death?

Health Insurance

Stock Price

Company News

PR Newswire
Dec 31st, 2024
China Natural Resources Reports First Half 2024 Results

HONG KONG, Dec. 31, 2024 /PRNewswire/ -- China Natural Resources Inc. (NASDAQ: CHNR) (the "Company") today announced its results of operations for the six months ended June 30, 2024. For the convenience of the reader, amounts in Chinese Yuan ("CNY") have been translated into United States dollars ("US$") at the rate of US$1.00 = CNY7.2673 as quoted by www.ofx.com on June 30, 2024, except as otherwise disclosed. Mr. Wong Wah On Edward, Chairman of the Company, commented, "We are prudently investing in our exploration activities as we work to extract further value from the Wulatehouqi Moruogu Tong Mine

Cision
Jul 31st, 2024
Ofx Partners With Technosis To Launch Innovative Multi-Currency Payment Solution

OFX, announces a new partnership with the German finance software company Technosis to launch an integrated multi-currency payment solution.FRANKFURT, Germany, July 31, 2024 /PRNewswire-PRWeb/ -- OFX, an international foreign exchange services provider, is pleased to announce a new partnership with the German finance software company Technosis to launch an integrated multi-currency payment solution. This solution aims to help businesses in Germany save time with fast, secure cross-border payments and competitive foreign exchange rates.Seamless FX Solutions for German BusinessesFor businesses looking to make and receive cross-border payments, OFX offers an innovative and competitive alternative to banks. Founded in 1998 and headquartered in Sydney, Australia, OFX has eight offices across the world with more than 700 staff. OFX helps businesses and consumers make international money transfers at great rates in over 50 currencies across 170 countries.Through its 'digital + human' business model, OFX complements its simple, self-service online platform with 24/7 localised customer support. Customers can speak to currency specialists anytime, day or night. OFX specialises in currency risk management for SMEs who trade overseas, helping businesses protect themselves from the risk associated with volatile currency markets.Innovative IntegrationTechnosis has integrated functionality into its existing platform to enhance the user experience with simplified FX solutions provided by OFX

PYMNTS
Dec 20th, 2021
OFX Buys Canadian FX Firm Firma for $70M

International money service provider OFX Group Limited has announced an agreement to acquire Firma, a global foreign exchange service.

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