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London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup
21–30 of 192 posts
Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup
#22Earlier quoted context omitted.
You mean like some sort of place where you could hunt new products?
I see what you did there. Types ' https://www.producthunt.com' into a browser. However, you could have just answered the question. Unless there's a /s i didn't see somewhere on the parent posts...
Also:
Q Television Channel - Informercials 24/7
Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup
#23Earlier quoted context omitted.
I use them every two weeks to move Canadian dollars to British pounds. Nobody else comes close in terms of exchange rates and level of service.
WorldFirst does. There are plenty of competitors in the space that do a great job at this.
Only for large amounts of money. I'm sending roughly $2000 in each transaction.
Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup
#24Read about some challenges they are facing as many other money transfer startups. It's actually a very hot niche at the moment.
Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup
#25(Tone: Genuine question I'm curious about because I don't know fintech.) How does this model end up interacting with wire transfer laws?
Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup
#26Is this basically electronic Hawala?
Yes, though without the negative connotations the term "hawala" carries in the West because all transactions are still fully documented and the broker gets a much lower share (for pure monetary international transfers in the hawala system, fees can go as high as 60% with 25% already being considered a "good deal"). And one does not have to pass high/drunk armed guards and is not paid from a huge pile of cash that jus…
At 60% fees and drunk/armed guards, Hawala sounds like money laundering except... even worse rates.
Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup
#27I've been using this for the past 6 months. It works really nicely and removes a lot of friction - it's just like sending money to another local account. I've paid people in Netherlands, Australia, Germany and they recently started allowing US$ paid to Ukraine, so I've been able to pay software developers there.
Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup
#28I live in Brazil and earn in Euros. Very happy with TransferWise, they save me a lot of money on fees - and they even warn me when the exchange rate is favorable. You can get a first transfer free with an invitation link, here's mine: https://transferwise.com/u/5d78
Do you by chance know what your company's tax obligations are? We'd love to open up for international remote work, but we also don't want to run afoul of any international tax obligations (i.e. local payroll taxes) due to remote employees.
Depending on what kind of workers you are looking for could you use international contractors? There are additional laws to take into consideration, but (using software engineers as an example) if they have multiple clients and have a business registered in their respective country then you would not be obligated to pay local payroll tax.
Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup
#29If you're poor, you're an immigrant.
If you're rich, you're an expat.
Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup
#30Interesting that they use the word expat instead of immigrant. I don't think if these two were from Asia/Africa they would have been called expats.