Your success is our success: WorldFirst and Bleepbox

Jason Kaye26th February 2021

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Background

Bleepbox is a UK-based seller of high-end equipment, particularly for gamers to build their own computers. It
launched in 2011, drop shipping products to customers on eBay, and has now expanded its supplier network to
10,000 products.

It sells exclusively online, both through marketplaces such as Amazon and NewEgg and via its own website,
www.bleepbox.com.

The business case

In 2015, the start-up decided to expand internationally into Europe, Brazil, Panama, the Middle East and
Australia. While it is more expensive to ship to other markets, Bleepbox trades on the possibility of offering
the greatest range.

Initially when selling abroad, Bleepbox faced premiums of up to 4% to convert local funds back to GBP.

The decision

When launching on NewEgg in the US, the company set up an account with WorldFirst. It currently has AUD, CAD, SGD, USD, EUR and JPY accounts. These accounts allow the company to collect income locally, and repatriate funds from these countries at the inter-bank rate with a fixed set fee.

The company also makes use of the currency tools, including setting up forwards contracts to lock in
favourable currency rates.

Since launching with WorldFirst, Bleepbox is able to compete more on price with local sellers in these countries, as it is completely in control of the exchange rates versus the sales price.

Next steps

Bleepbox is looking to add new currency accounts, including for selling in the United Arab Emirates
It is also hoping to sell directly via its own website, which was relaunched in 2020