SALT Analysis
What is SALT?
SALT is an Indian fintech startup handling international payments, cross-border transactions, and related legal compliance. The company offers inward remittance services, a foreign direct investment workflow called Table Salt, and small compliance tools for payment-related tasks. Its website says it supports 13 currencies and delivers foreign payments to merchants and individuals within 24 hours.
Location
Bengaluru, India
Employees
11-50
Founded
2020
Revenue
$3.2M
Business Model
Facilitates international payments; revenue from transaction fees and compliance services.
Product Features & Capabilities
- Live Inward Remittance, Receive foreign payments in 24 hours, Table Salt for legal and finance processes, Supports 13 currencies including USD, GBP, EUR, HKD, AED, AUD, CZK, CHF, DKK, NOK, PLN, SEK, and SGD.
Pricing
- Flat Rate: 1.75% of the transaction amount
- Includes 18% Government Taxes
- No subscription/annual fee
- No hidden charges
- No markup fee
- No signup fee for businesses
- FIRC provided for free for every transaction
Market Focus
SALT primarily focuses on the fintech industry, specifically facilitating international payments and legal compliance for businesses.
Competitors Overview
SALT operates in the fintech sector, focusing on international payments and legal compliance for businesses. Its main competitors include:
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Wise (formerly TransferWise): Known for its transparent fee structure and real exchange rates, Wise offers international money transfers with low costs. It is particularly advantageous for individuals and small businesses looking for cost-effective solutions.
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Payoneer: This platform provides cross-border payment solutions and is widely used by freelancers and businesses for receiving payments from international clients. Payoneer offers multi-currency accounts and is known for its extensive network of partners.
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Nium: Nium offers a comprehensive suite of payment solutions, including cross-border payments and compliance services. It is recognized for its robust API integrations, making it a preferred choice for businesses looking to embed payment solutions into their platforms.
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Veem: Veem simplifies the payment process for businesses by allowing them to send and receive payments globally. It offers features like payment tracking and multi-currency support, which can be advantageous for businesses with diverse international operations.
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Equals Money: This platform provides a range of financial services, including international payments and currency exchange. Equals Money is noted for its user-friendly interface and competitive rates, making it appealing to small and medium-sized enterprises.
Notable differences include Wise's focus on transparency and low fees, Payoneer's extensive network for freelancers, Nium's API capabilities, Veem's payment tracking features, and Equals Money's user-friendly approach.
Investors
- Y Combinator
- Astir Ventures
- WorldQuant Ventures
- Amit Goel (Angel Investor)
- Prashant Pansare (Angel Investor)
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