Currency Cloud announces $5bn international payment transactions made to date

Cloud-based international payments start-up Currency Cloud, listed sixth in the Startups 100 2014, has announced that it has facilitated over $5bn in international payment transactions; a “landmark” achieved in just two years.

Founded in January 2012 by Nigel Verdon, Currency Cloud is a Software-as-a-Service (SaaS) international currency conversion platform claiming to “take the hassle” out of money transfers by offering clients an all-in-one automated service, used to power the likes of Kantox and Transferwise.

In recent months the company has added several financial technology (FinTech) start-ups and money transfer firms to its platform, including WorldRemit, FairFX and MANGOPAY.

The $5bn achievement builds on the payment platform’s recent success after it secured $10m Series B funding in April to support a major new phase of growth.

Currency Cloud CEO, Mike Laven commented: “Reaching $5bn is a milestone for the firm.

“We have seen the FinTech movement pick up speed and are privileged that in our own small way we are contributing to it. It’s great that in just over two years we’ve changed from being a few people with an idea, into a thriving technology firm that serves some of the most dynamic businesses around.”

Discussing the company’s future plans, Laven added:

“There is always more to do. We believe in a world where moving money is easy and will continue to expand our customer base to bring our benefits to more consumers and small businesses around the world.”