KnightsbridgeFx

Rahim Madhavji, president of KnightsbridgeFX in Toronto, Ontario, sought $1,000,000 for 25% of his currency exchange company, which helps Canadians get better exchange rates than banks by charging about half a point compared to the roughly 2.5% banks typically charge. Revenue last year was about $5 million, expected to grow 30% to 40% this year to reach $6.5 to $7 million on aggregate transaction volume of about $1.2 billion, with profitability of 30% to 40%. Rahim Madhavji owns 100% of the company and was seeking a partner to help scale toward $20 million to $50 million.

Michele Romanow first offered $1,000,000 for 30%, citing her FinTech background and investor network. Vincenzo Guzzo went out, saying he could not add value. Manjit Minhas offered $1,000,000 for 25%, matching the original ask, and Jim Treliving offered to partner with Manjit Minhas on the same terms. Arlene Dickinson joined Michele Romanow's offer at $1,000,000 for 30%, briefly softening to 28% before Manjit Minhas and Jim Treliving withdrew their offer due to the delay in decision-making; Rahim Madhavji then accepted Arlene Dickinson and Michele Romanow's joint offer of $1,000,000 for 30%.

KnightsbridgeFx is still operating and sells through its website.