London-Based CurrencyCloud Eyeing Singapore Office After Raising US$ 80 Millionby Fintech News Singapore January 28, 2020
London-based B2B cross-border payments platform Currencycloud announced that it has secured an additional US$ 80 million in funding.
As part of its Series E funding round, Currencycloud received new backing from leading global institutions such as Visa, International Finance Corporation (a member of the World Bank Group), BNP Paribas, SBI Group and Siam Commercial Bank.
Existing backers Sapphire Ventures, Notion Capital, GV, Accomplice, and Anthemis, also participated in the round. The latest round brings the company’s total funding to over $140 million.
According to their media statement, Currencycloud will use the capital to strengthen its position as the market leader in embedded cross-border payments, by expanding its portfolio of emerging payment methods and developing its partner ecosystem so that more people and businesses can benefit from its next generation cross-border technology.
“Currencycloud is re-imagining how money flows around the global economy and embedding it into platforms of the future.”
said Mike Laven, CEO of Currencycloud.
“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”
Since 2012, Currencycloud has processed over $50 billion in cross-border payments and now boasts some of the biggest banking and Fintech brands among their clients. With the likes of Monzo, Starling and Revolut already counted among their customers, Currencycloud has recently added Visa, Bottomline, and Dwolla to the list of companies they work with.
Mike Laven added in a statement to Reuters that they are looking to dramatically increase their footprint in North America and open an office in Singapore later this year.
Featured image credit: Currencycloud