Payments services and foreign exchange provider Moneycorp has strengthened its presence in Europe with the launch of its business in France.

Based in Paris, the new Moneycorp France unit currently employs six people. The company intends to quadruple its workforce next year.

Moneycorp France will be led by Cyril Léger, who has two decades of experience in offering treasury and FX services for both fintechs and banks in France.

The firm aims to serve various corporate customers such as financial institutions, banks and enterprises with integrated payment solutions.

It will offer a range of payment and foreign exchange products for catering to the requirements of small and medium sized businesses.

With the launch of Moneycorp France, French firms are expected to receive an alternative solution to their legacy banks and providers. The launch is said to offer these firms access to smart technology as well as competitive pricing.

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Moneycorp EMEA CEO Koen Vanpraet said: “France is our sixth office in Europe, the Middle East and Africa region, which also includes the UK, Ireland, Spain, Romania and Dubai.

“This is a key milestone that exemplifies our ambitious growth plans in Europe and in the fintech payments space, and we look forward to furthering our success with the launch of Moneycorp France.”

In January this year, Moneycorp Americas announced the expansion of its in-country payment offerings.

The move saw the company provide access to alternative payment rails in APAC, LatAm, and Africa.