Visa Joins $80m Currencycloud Funding Round

Visa Joins $80m Currencycloud Funding Round
27.01.2020 06:18 am

Visa Joins $80m Currencycloud Funding Round

Payments

London-based B2B cross-border payments outfit Currencycloud has raised $80 million in a Series E funding round joined by blue-chip investors such as Visa, BNP Paribas and Siam Commercial Bank.

International Finance Corporation (a member of the World Bank Group) and SBI Group also joined the round alongside existing backers Sapphire Ventures, Notion Capital, GV, Accomplice, and Anthemis.

Since its launch in 2012, Currencycloud has processed more than $50 billion in cross-border payments. Last year it signed Visa as a client, adding to a list that includes major banking and fintech brands such as Monzo, Revolut and Dwolla.

The firm says it will use the funding to expand its portfolio of payment methods and develop its partner ecosystem. And, having signed SBI and Siam up as investors, Currencycloud is now looking to expand in Asia, as well as North America.

Finally, the company is planning to invest in talent, with CEO Mike Laven insisting that this will include, despite Brexit, a growing UK team.

Says Laven: "Transfer of value is fast becoming the newest layer in the modern technology stack, and Currencycloud is positioned to provide the infrastructure to make this happen. With these new strategic investors, we are well placed to be the go-to provider for the next wave of fintech innovation."

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