Introducing Muloot: A Manifesto

by Adam Rigler

After several years of development by some of the best minds in the business, I’m thrilled to announce the launch of Muloot: a solution designed to streamline every aspect of money management for growing businesses that are trading (or looking to trade) internationally.

Muloot is borne from decades of experience in the industry, both in the UK and further afield, as well as our recognition of a clear market need for a full-service platform that’s more accessible to businesses, and a genuine pleasure to use.

For years, ambitious businesses have been failed by the lack of nuance in financial services.

For businesses that are non-standard in any way (for instance, those in a less established industry, or owned by a parent company) opening a payment account with an established bank can be a real challenge. Companies of all sizes, but particularly new and growing SMEs, are too often failed by the lack of nuance in the viewpoints and processes of conventional financial services providers.

When presented with an application from a non-standard company, these providers often lack the time, resource and deep industry understanding to do them justice. They’re usually able to make a quick yes or no decision — but with more complex cases, staff are often forced to delay the application process while they research, or escalate the matter to someone more knowledgeable.

Similarly, finance and lending has become far more difficult for SMEs to access, with a 2023 survey revealing that the global trade finance gap stands at $2.5tn. The result? In an already inhospitable economic climate, new businesses are foiled at the first hurdle, unable to open a business account or access the funding they need to get off the ground.

Yet, even well-established companies that have no trouble getting approved for a business account are struggling to access the diverse range of services they need to operate on an international scale, every day. Too many providers see FX services as an “add-on”, creating inefficiencies and causing poor user experience.

Muloot was created to meet the market need for a holistic financial services platform, suited to multinational corporations and ambitious SMEs alike.

Having previously founded CardOneMoney — now owned by Equals Group PLC — and built that business up from scratch, the founders of Muloot spent a great deal of time observing the pain points that companies face on the path to success.

We knew we wanted to put the accessibility of our services front and centre, alongside a superb user experience that would truly set us apart from the other entities on the market.

The sheer level of expertise on our team makes us uniquely positioned to provide boutique customer service. With this type of insight available in-house, we’re equipped to make complex judgement calls regarding account applications from non-standard businesses, which might have been refused elsewhere. But that’s not where our relationship ends.

After onboarding, Muloot becomes a long-term partner in growth, offering a quick and useful response to any queries, always from a qualified human team member. We pride ourselves on showing up for our customers in the way that suits them best — be it via live chat, email, or the increasingly rare phone call.

Fully-integrated FX services and top-tier access to finance, created by experts.

Along with offering unparalleled customer support, Muloot aims to cement itself as a leading provider of FX services for businesses trading abroad. Early on, we brought in talent like Abigail Gries (Head of Risk and Compliance), Chris Camplejohn (Chief Technology Officer) and Stephen Hartnup (Head of International Payments) to assist with creating a platform that’s intentionally built around the functionality and features required for efficient foreign exchange. That means we offer a fully-integrated solution which other providers — who tack FX onto an existing platform — simply can’t emulate.

Our forthcoming capability to offer trade finance and access to business loans will also be manageable from within the Muloot platform, and with this service too, it’s our extremely knowledgeable team that distinguishes us. Backed by decades of relevant experience, we can make the call to provide capital to businesses who have often been told “no” several times already, helping to address the trade finance gap, and equip entrepreneurs with the tools they need to expand.

Yet while Muloot solves several problems — it offers one solution: a full-service financial platform designed for maximum inclusivity, with a genuinely intuitive interface, and customer support that goes above and beyond.

To find out more about Muloot and how to register, get in touch via +44 345 266 8758, or send us an email at customerservices@mulootmoney.com.