Business-to-business bartering company BarterTrust announced today it is relocating its headquarters from San Francisco to London.
The company, which already operates in the US, Canada and Latin America, says it will transfer its headquarters to London as it expands internationally, seeing the UK as its gateway to Europe.
Philip Letts, president and CEO of BarterTrust said London was attractive ‘because it has a more international markets, the largest concentration of financial services in the world and great infrastructure for financial services’.
‘I’d say the US and UK are probably the most advanced from an accountancy perspective,’he added.
Letts said the company was hiring personnel locally and would announce a new CFO in the next couple of weeks.
‘Barter exchanges are proven to help businesses with cashflow and they also assist businesses of all sizes to leverage their corporate assets much more effectively,’ Letts said.
According to Letts, Barter exchanges will benefit finance directors and accountants.
The BarterTrust Network is an international business exchange for companies to buy or sell products or services using a non-cash means of exchange.
The key benefits of the BarterTrust Network is that it maximizes revenue by reducing excess inventory or spare capacity, improves cash-flow management and exposes companies to new customers and markets.