When founder and managing director of Connetix Tiles, Dave Alexander, and his business partner, Brea Brand, wanted to create a product that could be sold online, they looked at what their own children enjoyed most.
“My business partner and I had a conversation around creating a product and selling a product online. We essentially thought of what our kids play with most and basically came up with the magnetic tile that we’ve got now.”
The Australian company launched in 2019 with a small run of versatile magnetic tiles that can grow with a child, who develops from building two-dimensional shapes as a three-year-old, to creating entire three-dimensional structures when they’re older.
In just the first two years, Connectix Tiles experienced phenomenal growth, selling in 45 countries and with almost 500 retailers worldwide. They’ve now expanded globally to more than 50 countries and sell on global marketplaces. With customers, suppliers and warehouses overseas, it was important for Dave to find a solution to fast and easy international business money transfers with local account details.
“We prefer to have all our customers pay us in their currency and WorldFirst enables us to do that. WorldFirst enables us to pay suppliers and warehouses and people we do business with in their currency, which just saves us money.”
Pay like a local
- Pay suppliers, partners and staff in 40 currencies
- Send up to 200 payments in a single transaction to save time and money
- Open up to 10 local currency accounts, with local account numbers
- Lock in conversion rates to manage your currency risk
The journey to success wasn’t always straightforward, with several roadblocks along the way, but Dave says it’s allowed the business to grow and forced them to “do things that we’re not used to doing.
“So we’re actually glad we hit those roadblocks.”
When it comes to cross-border payments, aside from being “an easy platform” to use, one thing he appreciates about WorldFirst is the low conversion fee he’s charged compared to the banks. “It just enables us to get paid and pay other people in the right currency with as little cost as possible.”
Disclaimer: These comments are the views and opinions of the author and should not be construed as advice. You should act using your own information and judgement. Whilst information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. Please consider FX derivatives are high risk, provide volatile returns and do not guarantee profits.
With a career spanning over two decades, Paul Bennett has flown from the shipyard to the stratosphere, leading a conglomerate that covers everything from airshows to resin manufacturing and freight.
Launched from a garage in 2019, Connetix Tiles now boasts well over 500 retailers worldwide, with customers, suppliers and warehouses globally.
Founder Faith Lim created a sister brand to her family legacy business after discovering a gap in the market.
AEDUnited Arab Emirates Dirham
AUDAustralian Dollar
CADCanadian Dollar
CHFSwiss Franc
CNHRenminbi
EUREuro
GBPPound Sterling
HKDHong Kong Dollar
ILSIsraeli New Shekel
JPYJapanese Yen
MXNMexican Peso
NZDNew Zealand Dollar
PLNPolish Zloty
SARSaudi Riyal
SEKSwedish Krona
SGDSingapore Dollar
USDUnited States Dollar
ZARSouth African RandExchange rate as of 19:39 UTC
The exchange rate is updated frequently and is for informational purposes only. The actual rate offered to you when making a payment will be confirmed before booking the payment.
We make international business payments easy
As well as great FX rates, the World Account gives you access to 10 local currency accounts, so you can make and receive fast international payments as easily as a local. Plus, you can send money around the world securely in dozens of currencies. It’s free to set up and there are no monthly fees.
The easy alternative to a business bank account abroad
A single account to pay and get paid in multiple currencies.
Open local currency accounts withlocal bank detials in minutes.
Convert currencies at a time and rate that suits you.
Spend less time on accounts with seamless Xero integration.
AEDUnited Arab Emirates DirhamAUDAustralian DollarCADCanadian DollarCHFSwiss FrancCNHRenminbiEUREuroGBPPound SterlingHKDHong Kong DollarILSIsraeli New ShekelJPYJapanese YenMXNMexican PesoNZDNew Zealand DollarPLNPolish ZlotySARSaudi RiyalSEKSwedish KronaSGDSingapore DollarUSDUnited States DollarZARSouth African RandExchange rate as of 19:39 UTC
The exchange rate is updated frequently and is for informational purposes only. The actual rate offered to you when making a payment will be confirmed before booking the payment.
We make international business payments easy
As well as great FX rates, the World Account gives you access to 10 local currency accounts, so you can make and receive fast international payments as easily as a local. Plus, you can send money around the world securely in dozens of currencies. It’s free to set up and there are no monthly fees.
The easy alternative to a business bank account abroad
A single account to pay and get paid in multiple currencies.
Open local currency accounts withlocal bank detials in minutes.
Convert currencies at a time and rate that suits you.