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Grey | Company profile, Business Model, and Operations

Recieved Funding?
yes
Type of Funding
Seed funding
Number of Funding Phases
1
Business Type
Private Company

All you need to know about Grey

Managing finances across borders can be a complex and frustrating experience. Grey aims to revolutionize this by offering a truly global banking solution. But what exactly is Grey, and how can it benefit you?

Grey is a web-based banking platform developed to offer foreign exchange services.

Our platform allows users to easily open a virtual global bank account for receiving and making foreign payments or converting currencies.

This enables our customers to exchange currency and conduct cross-border transactions with ease.

About Us

Grey is a Fintech platform that aims to revolutionize global banking solutions, by building Financial Inclusion for Modern Workers.

We empower global professionals (remote workers, digital nomads, freelancers) and individuals to live a location-independent lifestyle.

Founded in July 2020, Our goal is to simplify the lifestyle of digital nomads and remote workers, making it easier for them to thrive in the contemporary world.

  • Founded in July, 2020
  • Headquarters: Middletown, DE. USA
  • Employees: 50+ Employees across 6 Countries

Why Choose Grey?

When Grey was founded, our goal extended beyond simply processing payments. We aimed to have a positive impact on the livelihoods of remote workers and creators in emerging markets.

In late 2020, we came to understand three key points while navigating the impact of a global pandemic.

Firstly, a significant number of businesses began employing remote workers across various geographical locations.

Secondly, a considerable portion of these workers were based in Africa and other emerging economies.

Lastly, there was a challenge in receiving international payments, raising the question of how these workers would receive their salaries.

Grey simplifies the process for remote workers and creators in emerging markets to establish a foreign bank account and begin receiving payments in their own currency, free from concerns about exchange rates or transfer fees.

We are confident that this will enable more individuals to pursue opportunities for personal and professional growth.

We have assisted numerous individuals in opening bank accounts and receiving payments from global companies. We take pride in making a positive impact on the lives of those in need, one payment at a time.

IDEE OBONG, CEO

Our Mission

Our Mission is to simplify the lifestyle of digital nomads and remote workers, making it easier for them to live and work in today's society.

Our Vision

A world where there seem to be no borders or barriers to financial mobility. Our Vision is to make globalization work for everyone.

Our Core Values

  • We keep it 100 always
  • We are curious - The cure for boredom is curiosity;
  • We encourage empathy
  • We strive to make a difference every day!
  • We own up when we're wrong

At Grey, we are committed to making a positive impact and providing support to important causes. Our focused social impact efforts and corporate social responsibility initiatives are aimed at creating positive change in the areas we operate.

When you choose Grey, you are not only streamlining your international transactions but also playing a part in creating a better world.

Our Services

  • Foreign Bank Accounts: Open US, UK, or EU bank accounts directly from your phone. This eliminates the hassle of traditional banking processes and allows you to operate internationally with ease.
  • Competitive Currency Exchange: Exchange major currencies at advantageous rates, ensuring you get the most value for your money.
  • Virtual Cards: Shop and make international payments securely with virtual debit cards. This adds an extra layer of convenience and security for your online transactions.
  • International Money Transfers: Send and receive money internationally with ease, whether for personal or business purposes.
  • Zero Fees: Enjoy the benefit of no account or card maintenance fees, making Grey a cost-effective option for global banking.
  • Real-Time Notifications: Stay informed with instant notifications for every transaction, keeping you in control of your finances.
  • Peer-to-Peer Payments: Send and receive funds quickly and easily with free P2P transfers.

Beyond their services, Grey's offerings extend beyond simple banking services.

Their website emphasizes their dedication to social responsibility, showcasing their commitment to giving back and making a positive impact on the communities they operate in.

This comprehensive approach establishes Grey as a company that values both financial well-being and social impact.

About Our Ceo

Idorenyin Obong serves as the co-founder and CEO of Grey, overseeing the company's global operations and managing its business in East, West, and North Africa.

With over seven years of experience in the fintech industry, Idorenyin is a seasoned software engineer known for his ability to drive brand growth, optimize operational excellence, and achieve financial performance.

He is responsible for leading Grey's expansion into high-growth emerging markets, both domestically and internationally, as well as overseeing the development of advanced consumer identity protection and fraud security.

Prior to his current role, Idorenyin held technical positions at Busha and Paystack, and most recently at Yellowcard Financials, a US-based company that offers crypto access to African consumers.

Idorenyin earned a Bachelor of Science degree in Computer Science from The University of Cross River State, Nigeria, and is currently based in Lagos, Nigeria.

Conclusion

Grey offers a compelling solution for those seeking a hassle-free global banking experience. With its focus on inclusivity, transparency, and social responsibility, Grey positions itself as a future-oriented financial partner.

References


Industry

Femi Aghedo
Idorenyin Obong

Grey
Business Model

The Company major services and product include: Currency exchange, Technology, Foreign Bank Accounts, Cross-Border Payments, and Remittance

The Company was Founded
The Company was established on
July 1, 2020
HeadQuarters
The Company has its Operational Headquarters at Middletown, DE. USA
Industry
The Company is contributing to the development of the Industry Financial Software
Staff Strength since Inception
The Company prides in her team member of about 51 - 100 active members

Grey Business Model

The Company major services and product include: Currency exchange, Technology, Foreign Bank Accounts, Cross-Border Payments, and Remittance

yes
Have they recieved Funding from VCs
yes
Have they recieved Funding from VCs
yes
How many number of Funding rounds?
$3B
Company Net worth as of 2023

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