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.
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.”