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- London-based fintech startup Currencycloud raised $80 million from investors including Visa, the IFC, and BNP Paribas.
- Founded in 2012 the company has raised $140 million to-date and was among the first financial services startups to work in the money transfer space in Europe.
- “This funding round will help us grow the business on a global basis, particularly in North America and Asia,” Currencycloud CEO Mike Laven told Business Insider in an interview.
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London-based fintech startup Currencycloud has raised $80 million from investors including Visa, the IFC, and BNP Paribas.
The company provides B2B remittance APIs to allow companies to integrate money transfer functionality into their business. It has raised $140 million in total.
Currencycloud’s CEO Mike Laven told Business Insider that the $80 million funding from strategic investors closed in December but was a lengthy and complex process.
“For strategic investors the question is whether we are important in their world which means they have a broader set of criteria and objectives for investing,” he told Business Insider in an interview. “This funding round will help us grow the business on a global basis, particularly in North America – which is generations behind in fintech – and Asia, particularly Japan, South East Asia, and China.”
Investors in the latest round include Visa, the World Bank Group’s International Finance Corporation, French bank BNP Paribas, the SBI Group (the Japanese giant that was once a part, but now independent, of SoftBank) and Thailand’s Siam Commercial Bank.
Existing investors Sapphire Ventures, Notion Capital, GV (formerly Google Ventures), Accomplice and Anthemis were involved in the round.
Currencycloud claims to have processed over $50 billion in cross-border payments since 2012 and counts a number of high-profile fintech startups as clients, including neo-banks Monzo, Starling, and Revolut.
Part of Currencycloud’s latest funding will go towards expanding the company’s international staff presence, which, despite Brexit, will include hiring at the startup’s UK headquarters.
Check out the company’s (redacted) investor pitch deck below: