Currencycloud lands £20m in Series D funding
Startups Awards-winning international transfer business will use funding to fuel its global expansion
Currencycloud, the Startups 100-featured international currency transfer platform, has raised £20m in Series D funding from GV (formerly Google Ventures), as well as existing investors, Notion Capital, Sapphire Ventures, Rakuten FinTech Fund and Anthemis.
Launched in 2012, Startups Awards-winning Currencycloud’s cloud-based payments platform automates international transactions for its clients across 30 currencies and 212 countries.
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The company currently serves more than 200 customers in 35 countries including Klarna, Travelex, Standard bank, Revolut and Azimo, who it claims have collectively sent $25bn to date.
The funding follows an $18m Series C in 2015 and brings Currencycloud’s total investment to £44m. It will be used support the company’s ongoing growth and global expansion.
Mike Laven, CEO of Currencycloud, commented: “Currencycloud provides a set of multi-currency payment and conversion tools that are helping hundreds of companies globalise fast. We are seeing massive and increasing demand for these services, with volumes growing over 150% last year.”
Tom Hulme, GV general partner, added: “We believe in empowering developers by making it easier for them to add scalable services to their products, ideally with simple application programming interface. Currencycloud is the leader in providing cross-border payment services in this manner, a real need as companies globalise.”