Privalgo secures Dutch EMI licence and sets sights on European expansion

By Daniel Biggs CEO & Founder, Privalgo and Ronald Wallroth MD Privalgo Europe

London-based fintech Privalgo has secured a Dutch Electronic Money Institution (EMI) licence from De Nederlandsche Bank (DNB), marking a significant milestone in the company's European expansion. The licence, granted on 1 August 2025, enables the launch of Privalgo B.V. in Amsterdam and allows the company to passport its services across all EU member states. We spoke with CEO Dan Biggs and Managing Director Ronald Wallroth about what this means for the business, why Amsterdam was chosen as their European hub, and how they plan to leverage this regulatory achievement to serve ambitious businesses across the continent.

In a nutshell, what does Privalgo do?

Dan Biggs: Privalgo is an international payments and foreign exchange platform built for businesses and individuals who need more than what traditional banks offer. We specialise in helping clients move money across borders efficiently – whether that's managing supplier payments in multiple currencies, hedging FX risk, or facilitating high-value international transactions. We process billions in payments across 140+ currencies and 180+ countries. What sets us apart is that we combine cutting-edge technology with a genuinely personalised approach. We're not interested in generic, one-size-fits-all solutions. Every client has different needs, and we tailor our service accordingly.

You've just secured a Dutch EMI licence. What does this actually mean?

Dan Biggs: The EMI licence from De Nederlandsche Bank is a game-changer for us. It allows us to issue electronic money, provide payment accounts, and execute payment transactions under one of Europe's most rigorous and respected regulatory frameworks. Another power of this licence is the passporting mechanism. With one Dutch EMI licence, we can now offer our services across all EU member states without needing separate licences in each country. That dramatically accelerates our ability to serve European businesses and individuals who need sophisticated international payment solutions.

Why did you choose Amsterdam as your European base?

Dan Biggs: Amsterdam quickly emerged as the obvious choice when we were evaluating our European expansion. There are several reasons for this. First, the strategic location – it puts us right in the heart of Europe with excellent connectivity to clients and partners across the continent. Second, the business culture is naturally international and outward-looking, which aligns perfectly with our cross-border focus. And third, the regulatory environment. The DNB  has a reputation for being both rigorous and constructive. They maintain high standards – which we appreciate, as it protects the integrity of the financial system – but they're also forward-thinking and supportive of responsible innovation. The city also offers an exceptional talent pool and a thriving financial ecosystem. It simply ticks all the boxes for what we need to build our European operations.

What will you do with this licence? What's your expansion plan?

Ronald Wallroth: We're working on three main fronts. First, we're accelerating our commercial presence across continental Europe. Until now, our European growth has been somewhat constrained by regulatory limitations. With the EMI licence and passporting rights, we can now proactively target businesses in key markets – Germany, France, the Netherlands, the Nordics, and beyond. Second, we're investing in our Amsterdam team and infrastructure. We need local expertise, language capabilities, and cultural understanding to serve European clients properly. This isn't just about legal compliance – it's about building genuine relationships and understanding local business practices. Third, we're enhancing our product offering to meet specific European needs. Different markets have different payment preferences, compliance requirements, and business expectations. We're making sure our platform can adapt while maintaining our core strengths in speed, security, and personalisation.

How does this licence benefit your existing and future clients?

Ronald Wallroth: For existing clients with European operations, this opens up new possibilities. They can now consolidate more of their international payment flows through Privalgo, benefiting from consistent service quality, competitive rates, and streamlined operations across multiple countries. For prospective clients in continental Europe, it removes a major barrier. Many European businesses have been hesitant to work with UK-based financial services providers post-Brexit. Now, with our Dutch entity and DNB licence, we're a fully European-regulated institution. That changes the conversation entirely. The practical benefits remain what they've always been: tailored solutions for complex currency and payment needs, cutting-edge technology that actually works, and a personal approach that puts client goals first. But now we can deliver these benefits seamlessly across the entire EU.

Aren't you worried about competition from established banks and larger fintechs in Europe?

Dan Biggs: Competition keeps you sharp, and frankly, we welcome it. The reality is that traditional banks are often slow to innovate in this space, and many larger fintechs prioritise volume over personalisation. That creates an opening for us. We're not trying to be everything to everyone. We focus on clients who need sophisticated international payment solutions and who value expertise, transparency, and responsiveness. These are typically mid-sized to larger corporates, SMEs with complex cross-border operations, and high-net-worth individuals. Our sweet spot is businesses with international payment flows between £5 million and £500 million annually. These companies need more than basic payment processing – they need strategic FX management, efficient multi-currency operations, and a partner who understands their business. That's where we excel.

What specific problems does Privalgo solve that traditional banking doesn't?

Ronald Wallroth: Traditional banks tend to treat international payments as an ancillary service rather than a core competency. That leads to several problems that our clients consistently mention. First, speed – bank international payments can take days to settle, creating cash flow complications and uncertainty. Second, cost – bank FX margins and transfer fees can be opaque and expensive, particularly for less common currency pairs. Our pricing is transparent and typically more competitive. Third, technology – most banks still rely on dated systems that make it difficult to track payments, automate processes, or integrate with modern financial software. Our platform is built for today's digital business environment. Fourth, service – when you're dealing with complex international payments, you need expert guidance, not a call centre. Our clients have direct access to currency specialists who understand their business. These aren't small issues – they directly impact profitability, working capital, and competitiveness.

You mentioned you process billions across 140+ currencies. Can you give practical examples of how clients use Privalgo?

Dan Biggs: We work across diverse sectors, but let me give you a few concrete examples. We have manufacturing clients who import components from Asia and sell finished products globally. They use us to manage supplier payments in multiple currencies while hedging their FX exposure to protect margins. We work with professional services firms – consultancies, law firms – that bill clients in one currency but operate in many. They use our platform to receive payments efficiently and manage currency conversions strategically. We support e-commerce businesses that sell across Europe but need to pay suppliers, warehouses, and logistics providers in different currencies. Our technology integrates with their systems to automate payment flows. And we serve high-net-worth individuals buying property abroad, managing international investments, or supporting family members in different countries. In each case, the common thread is complexity – either high volumes, multiple currencies, or the need for sophisticated FX risk management. These clients need more than a basic payment service. They need a strategic partner. 

How does the follow-up work once a client is onboarded? How do you maintain that personalised approach at scale?

Ronald Wallroth: Personalisation at scale is genuinely challenging, but it's central to our value proposition. When a client comes onboard, they're assigned a dedicated Relationship Manager who becomes their primary point of contact. This isn't a salesperson who disappears after the contract is signed – this is an experienced payments and FX specialist who understands their business, their risk tolerance, and their objectives. We use technology intelligently to support this human element. Our platform provides real-time transparency on rates, transactions, and positions, but we don't force clients to navigate everything themselves. If they prefer to deal with us directly – whether by phone, email, or WhatsApp – that's absolutely fine. We've also invested heavily in integration capabilities. The goal is efficiency without losing the human touch.

What are the immediate, tangible benefits clients see when they switch to Privalgo?

Dan Biggs: The benefits typically fall into three categories: cost savings, time savings, and risk reduction. Beyond the direct financial impact, there's also the strategic value of having better data and visibility. Many of our clients tell us they simply didn't understand their true FX exposure until they started working with us. Once you have that visibility, you can make better business decisions about pricing, supplier selection, and market expansion.

Looking ahead, what's your vision for Privalgo? Where do you want to be in five years?

Dan Biggs: Our long-term ambition is to be a truly global, full-service financial provider for businesses and individuals with complex international needs. The Dutch EMI licence is a crucial step toward that vision, but it's not the destination. Over the next five years, we want to expand our geographic reach beyond Europe, deepen our product offering to include more sophisticated treasury and risk management solutions, and continue investing in technology that makes international finance genuinely seamless. We also want to scale thoughtfully. We're not interested in hyper-growth for its own sake or in burning capital unnecessarily. We believe in sustainable, profitable growth built on genuine client value. That's why we focus on client retention, operational excellence, and building a team of people who genuinely care about doing right by our clients. If we do those things well, the growth will follow. Ultimately, we want Privalgo to be synonymous with excellence in international payments and FX. When a business or individual has sophisticated cross-border financial needs, we want them to think of us first.

Any final thoughts on what this licence means for the company?

Ronald Wallroth: This licence represents validation – not just regulatory validation, but validation of our approach and our vision. The DNB conducted extensive due diligence on our business model, our governance, our risk management, and our team. Earning their approval means we meet the highest European standards. But more importantly, this opens doors. We can now have conversations with European businesses that simply weren't possible before. We can compete for mandates that previously went to local banks by default. We can build partnerships with European financial institutions, payment service providers, and technology platforms. The EMI licence is a foundation. What we build on that foundation over the coming years will define whether we achieve our ambitions. But we're confident we have the right team, the right strategy, and now, the right regulatory infrastructure to make it happen.