This meant that they no longer had to worry about which card they made a payment in USD with.
#FREEYOURMUSIC NOT WORKING FREE#
Not only did Free Your Music now have access to all the currencies they needed, but they were also able to send and receive payments without the hefty fees that other banks tacked on. The solution was to offer up a multi-currency account, with no foreign exchange fees! Yep, you read that correctly. Subscribe to our Blog 📲 And how did Revolut Business solve the problem? 💼 The reality was that banks made the process slow and incredibly pricey, so Revolut Business stepped up to the plate to offer something new and convenient, which transformed the way companies like Free Your Music did their business banking. Add to this a list of international payments in other currencies and you have an accountant's worst nightmare. First there was the AppStore and (which provides their desktop sales), both of which paid them in EUR - and then there was the Google Play store which paid them in GBP. From receiving payments in USD to paying partners in Polish Zloty, or accepting their main source of revenue in GBP or EUR - they clearly needed a multi-currency account that could make international payments simple - and that’s where traditional banks fell short.Īs a company with an app and also a desktop version of the service, their revenue came from three different sources and in different currencies. While Free Your Music may be based in Berlin, they needed to make a variety of international payments to keep their business chugging along happily. So why didn’t traditional banks work for them? 🤷🏻♀️ But it wasn't all smooth sailing for the young company, especially when it came to managing their business finances. 👨🏻💻įast forward to the present day and the app now generates a healthy monthly revenue, which has allowed the two brothers to hire more developers, a dedicated marketing team and expand their product further. In fact, they came up with the name ' STAMP' as an acronym for ' Spotify to Apple Music Parser' - for those of you who like to geek out over these things. So, just like us, the trio rolled up their sleeves and built their own solution. The problem was that they had been using Spotify for some time and they wanted a way to easily switch their carefully crafted playlists over to Apple Music, but couldn't find a service that would solve their problem.
📲īased on their own frustrations, they built the first iteration of the app in one night of coding, simply because they wanted to try out the newly launched Apple Music, back in 2015. Interesting, tell me more about the company 🤔įree Your Music was founded by two brothers and their friend a few years ago, when the trio created an app called Stamp, which allows you to move your playlists from one streaming service to another - think Spotify to Apple Music and back, all at the tap of a button. Meet the start-up that allows you to switch between different music streaming services without losing any of your precious playlists in the process, and learn how Revolut is helping them grow their business internationally. Gone are the days when three people would build a cool product from the ground up, right? Not quite.
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