White Matter Advisory Acquires 90% Stake In Fairexpay.

New Delhi, 29th of July, 2024 : Treasury risk consulting firm White Matter Advisory on Monday announced acquisition of 90 per cent stake in fintech startup Fairexpay for an undisclosed amount.

This strategic acquisition will help White Matter Advisory in expanding its portfolio in the area of cross-border remittance and fund collection services.

White Matter Advisory, operating under the name SaveDesk (White Matter Advisory India Pvt Ltd), is one of the leading players in the treasury risk advisory sector.

It oversees Funds Under Management (FUM) totaling USD 8 billion, offering advisory services to a wide range of clients.

Through SaveDesk’s comprehensive suite of services, White Matter Advisory has established itself as a leader in the financial advisory space. It helps businesses to navigate the complexities of treasury and risk management effectively.

The acquisition of Fairexpay represents a natural extension of White Matter Advisory’s strategic vision. This deal aligns perfectly with the company’s goal to expand its capabilities in the fintech space, leveraging their expertise to reduce costs by 3-5%. By integrating Fairexpay’s advanced technology, White Matter Advisory aims to offer seamless and cost-effective cross-border payment solutions, providing clients with secure options for international money transfers.

Fairexpay, authorized by the Reserve Bank of India (RBI) under Cohort 2 of the Liberalized Remittance Scheme (LRS) Regulatory Sandbox, boasts robust features including best-in-class FX rates, 24-hour processing times, and comprehensive security compliance. These features align perfectly with White Matter Advisory’s commitment to delivering high-quality financial services.

SaveDesk founders Bhaskar Saravana, Saurabh Jain, Kranthi Reddy, and Piuesh Daga bring a wealth of experience in cross-border banking transactions, having worked across various verticals in the banking industry before establishing the company. By combining their resources and expertise, White Matter Advisory and Fairexpay are set to redefine standards in the fintech industry.

With this acquisition, White Matter Advisory will leverage Fairexpay’s advanced technological platform and regulatory approvals to enhance its client services.

The integration of Fairexpay’s capabilities is expected to provide White Matter Advisory with a competitive edge in the cross-border remittance and fund collection market.

This acquisition underscores White Matter Advisory’s commitment to innovation and growth, ensuring it continues to meet the evolving needs of its clients in an increasingly dynamic financial landscape.

 About White Matter Advisory

White Matter Advisory, operating under the name SaveDesk, is a premier financial services company based in Bangalore. Specializing in optimizing banking costs and enhancing corporate treasury management, SaveDesk aims to bring financial fairness to the banking system. By identifying and managing hidden and direct banking charges, they help companies improve their bottom lines by up to 7%. SaveDesk’s offerings include a SaaS-based FX market data platform with real-time feeds for over 100 currencies, banking cost optimization services, custom treasury risk management solutions, and compliance guidance with the Foreign Exchange Management Act (FEMA) and other trade-related regulations.

About Fairexpay

Fairexpay is a global aggregator platform offering competitive currency exchange rates from numerous exchange partners worldwide. Catering to both individual and business clients, Fairexpay provides solutions for seamless money transfers for education, travel, and immigration, as well as streamlining cross-border payments through API and white-label solutions for businesses. Key features include competitive FX rates, 24-hour processing times, wide currency coverage of over 30 currencies across more than 200 countries, and secure, compliant transactions adhering to RBI regulations.

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