Cross-border payment specialist Currencycloud raises $80m from backers including Visa and Google Ventures
Currencycloud has today announced it has secured an additional $80 million in funding to fuel the next phase of its growth.
The platform, which covers the entire workflow in B2B cross-border payments - and since 2012 has processed over $50 billion in payments of this kind - has raised a grand total of more than $140 million in funding following this Series E round.
Currencycloud received backing from organisations like Visa, International Finance Corporation, BNP Paribas, SBI Group and Siam Commercial Bank, as well as from existing funders Sapphire Ventures, Notion Capital, Google Ventures, Accomplice, and Anthemis.
Visa partnered with Currencycloud in 2019 for innovation in travel payments. Visa's SVP and Treausurer, Colleen Ostrowski, joins the Currencycloud board following this significant investment.
Currencycloud CEO, Mike Laven (pictured), said: “Currencycloud is re-imagining how money flows around the global economy and embedding it into platforms of the future. 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."
Ostrowski, SVP and Treasurer at Visa, said: “I’m delighted to be joining the board of such an exciting technology company. Currencycloud is re-shaping the way that the platforms of the future are moving money around the world, and there is huge potential for the company to drive further innovation in the cross-border payments industry.”