[2][3] The firm was founded in 2020[4] and officially launched in 2022 by two Americans, Neeraj Baid and Patrick Kavanagh, both early employees of the listed US financial services company Robinhood.

[15] Atlantic Money can be used by residents of the United Kingdom and 30 European countries[13][16] to send euros or pounds sterling into 10 different foreign currencies.

[22] Wise is said to have removed the cheaper challenger from its international money transfers price comparison table for economic reasons.

Atlantic Money also charged Wise with denying access to other price comparison sites that the company owns and controls.

[23][24][25] In March 2023, Atlantic Money approached the European Commission with its concerns about Wise's conduct.