Your next generation foreign exchange specialist

Currencycloud raises $80m from Visa Inc, BNP Paribas and others

Currencycloud, the payment platform provider to CurrencyWave, has announced an $80m funding round from several blue chip investors including Visa Inc, BNP Paribas and SBI Group:

NEW YORK, Jan 26 (Reuters) – London-based financial technology startup Currencycloud has raised $80 million in funding from strategic investors including Visa Inc, BNP Paribas SA, SBI Group, Siam Commercial Bank and the International Finance Corp, the company said on Sunday.

Existing investors including Sapphire Ventures, Notion Capital and GV, formerly Google Ventures, also participated in the round, CurrencyCloud said.

The company will use the cash injection to fuel its global expansion plans and grow its suite of products, Currencycloud Chief Executive Mike Laven, said in an interview.

“We will dramatically increase our footprint in North America,” Laven said. The company also plans to open an office in Singapore later this year, he said.

Founded in 2012, Currencycloud processes cross-border payments for businesses, including well-known European neobanks Monzo, Starling and Revolut. Since its launch it has processed more than $50 billion in payments.

Visa and Currencycloud partnered last year on travel payments.

Laven said the company hopes to work with the other companies that participated in the investment round.

“We consciously raised money from strategic investors because we think they can help us with our expansion,” he said.

The new investment round brings the company’s total funding to more than $140 million. As part of the deal, Colleen Ostrowski, senior vice president and treasurer of Visa Inc, will join Currencycloud’s board, the company said. (Reporting by Anna Irrera; editing by Jonathan Oatis)

 

 

SOURCE: THOMSON REUTERS

https://www.reuters.com/article/currencycloud-funding/fintech-startup-currencycloud-raises-80-million-from-visa-bnp-paribas-and-others-idUSL1N29T1KB

 

 

More Insights

Contact Us

T. Enquiries: +44 (0) 113 451 0180  E. info@currencywave.com

Address

CurrencyWave Ltd
1200 Century Way, Thorpe Park,   Leeds, LS15 8ZA, United Kingdom

Payment Provider

The Currency Cloud
The Steward Building, 12 Steward Street, London, E1 6FQ, United Kingdom

Payment Provider

Equals Connect Limited
Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ, United Kingdom

[contact-form-7 404 "Not Found"]

Please complete the following for access to the free download.

Don’t worry, we will only contact you with regards to your enquiry and your details will be deleted forever after an appropriate period of time. We will never pass on your information to anyone else.

Yes, I am happy for you to hold my data and send further correspondence.No, please do not send me any future correspondence.
I agree to Terms and Conditions and Privacy and Cookies policy.