What if we require funds to be wired in an alternative currency?

By default, Odin only wires funds to your company in the same currency the Syndicate Lead has denominated the deal in. If the deal is denominated in USD and investors have transferred in USD, Odin would, by default, send funds to your company in USD.

If there is no other option, Odin can wire the final investment amount to your company in a currency of your choice, but there will be associated costs.

Any FX fees incurred by Odin will be passed onto the Syndicate Lead (or to your company at their request), and Odin charges a flat rate of £500 for any deal where currency conversion is required, plus any additional FX fees incurred by Wise.

Incurring FX charges may reduce the overall final investment amount Odin is able to wire to your company, and may require revision of the investment legals.

Odin takes steps to minimise its own exposure to FX risks. In practice, we would offer either the live rate on the day of conversion, or would convert in advance upon an agreed rate.