UK-based Atlantic Money has gone live in the UK and raised USD 3 million to expand internationally. Now, everyone in the UK can transfer up to GBP 1,000,000 abroad for a fixed fee of GBP 3 and at the interbank mid-market rate with no foreign exchange (FX) mark-up.

The low-cost transfers can be made via the Atlantic Money iOS App. The further USD 3 million in seed funding was led by Amplo and included Nordstar and former Lazada executive, Martell Hardenberg. This is in addition to USD 4.

5 million in initial seed funding from investors including Index Ventures, Ribbit & Kleiner Perkins. Atlantic Money’s app is a way of moving money across borders. The fixed flat fee of GBP 3 undercuts incumbent money transfer providers as customers save 75% compared to Wise and up to 99% when compared to other competitors, according to the press release.

Usershate to download the app, go through a one-minute verification process, and can immediately begin transferring money. They can select standard delivery or opt for express delivery for a small additional fee of 0.05% – a GBP 1,000 express transfer costs just GBP 3.

05. Customers can send money from the UK in GBP into 9 currencies including USD, EUR, AUD, CAD, SEK, NOK, DKK, PLN, and CZK, with new currency corridors and advanced product features being added continuously post-launch.