Fourex are through to the finals of Pitch to Rich
Brand new and revolutionary money exchange business Fourex, founded by entrepreneurs Jeff Paterson and Oliver
Du Toit, has beaten over 2,500 other products and businesses to make it through to the final of Virgin Media Business’ ‘Pitch to Rich 2015’. On Friday 26th June 2015, Jeff and Oliver will pitch their business idea to Sir Richard
Branson and his panel of judges – Justine Roberts, David Gandy, Jo Malone, Jon Oringer, and Peter Kelly – in the live finale in London.
Offering a complete world first to the global market, Fourex is set to revolutionise the way the UK exchanges money. Fourex has already enjoyed a series of successes, securing contracts with Transport for London and Westfield shopping centres, as well as successfully overfunding by 240% when they raised money through crowdfunding. Fourex is delighted to announce that they are now one of just nine brands in Virgin Media Business’ Pitch to Rich final, and just one of three in the competition’s ‘New Things’ category. With the chance to take home a share in over £1,000,000 of Virgin prizes, including advertising campaigns, cash prizes and invaluable mentoring from the brand’s bigwigs, it is an incredible opportunity to bring Fourex to life.
The Fourex idea is simple yet genius. Fourex kiosks are able to accept unsorted coins and notes (that are both in and out of circulation) from over 150 currencies, and convert their value into either British Pounds, Euros, or US Dollars. The software within the kiosks is able to process and evaluate each coin in a fraction of a second, distinguishing it from anything else found in the foreign exchange market, and offers undeniable value for money. Unlike its competitors, Fourex is able to accept even the smallest denominations, and there are no hidden fees or commissions. This fills the huge gap in the market for the leftover coins and notes found in wallets and purses after holidays that no big company is willing to exchange.
The exchange rates are updated daily in line with market trends, and are clearly displayed on their kiosks, enabling complete transparency. Customers also have the choice to donate part or all of their exchange to one of Fourex’s six charity partners – UNICEF, The Railway Children, The Guide Dogs for the Blind Association, The London Transport Museum, Ellenor Hospice and the UK Stroke Association.
Jeff Paterson, Co-Founder of Fourex comments: “We are absolutely delighted to have reached the final! The exposure gained from simply being involved in this competition has already opened up so many doors, and we have been inundated with requests for franchises around the world. To be in the final and to have the opportunity to pitch our crazy idea to such an accomplished panel of judges, is truly a once in a lifetime opportunity, and one that we are so excited about. It confirms that we’re on the right track and have a product that the public relates to.”
To learn more about Fourex and Virgin Media Business ‘Pitch to Rich 2015’ competition and watch them in the final this coming Friday, the 26th of June.