Currencycloud Secures £20M From GV
Currencycloud is one of the world’s leading cross border payments platforms and it has just released some news pertaining to expansion.
It has announced it has secured $25 million in Series D funding with a new investment from GV, in addition to funding from investors.
These existing investors include Sapphire Ventures, Notion Capital, Rakuten FinTech Fund, and Anthemis. Combining the efforts from all of these investors, the five year old company not retains about $61 million in funding.
Currencycloud offers the tools necessary in building cross-border products and apps, driving a force of innovation across the fintech industry. Currencycloud count over 200 customers in over 35 countries and millions of end-users have access to its vast platform via their payment providers.
Klarna, Travelex, Standard Bank, Revolut, and Azimo are all proud users of Currencycloud’s APIs. Users of the platform also include challenger banks, prepaid card, digital payment firms and PSPs. As of now, $25 billion has been sent through Currencycloud’s infrastructure to over 200 nations.
GV General Partner Tom Hulme commented, “We believe in empowering developers by making it easier for them to add scalable services to their products, ideally with simple APIs. Currencycloud is the leader in providing cross-border payment services in this manner, a real need as companies globalize.”
Mike Laven, CEO of Currencycloud stated, “In recent years we have seen the rise of the building block economy. Companies can combine services such as AWS, Google Maps, Stripe and Twilio to build innovative new businesses fast and without the overhead of expensive proprietary systems. Currencycloud provides a set of multi-currency payment and conversion tools that are helping hundreds of companies globalize fast. We are seeing massive and increasing demand for these services, with volumes growing over 150% last year.”
Jos White, Partner at Notion Capital commented, “Currencycloud is powering the global economy of the future enabling customers to do business around the world without the usual cost and friction we associate with this. We are very happy to continue to back the company.”