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Currencycloud secures $80 mn in Series E funding from Visa

B2B cross-border payments platform, Currencycloud announced that it has raised $80 million in a Series E funding round from investors including Visa, International Finance Corporation (a member of the World Bank Group), BNP Paribas, SBI Group and Siam Commercial Bank. The round also saw the participation of existing users such as Sapphire Ventures, Notion Capital, GV, Accomplice, and Anthemis.

“Currencycloud is re-imagining how money flows around the global economy and embedding it into platforms of the future. Transfer of value is fast becoming the newest layer in the modern technology stack, and Currencycloud is positioned to provide the infrastructure to make this happen. With these new strategic investors, we are well placed to be the go-to provider for the next wave of Fintech innovation,” said Mike Laven, CEO of Currencycloud.

The funding is expected to assist the company in boosting its market position as well as expand its payments portfolio. The current funding round brings the total funding to over $140 million.

“I’m delighted to be joining the board of such an exciting technology company. Currencycloud is re-shaping the way that the platforms of the future are moving money around the world, and there is huge potential for the company to drive further innovation in the cross-border payments industry,” added Colleen Ostrowski, SVP and Treasurer at Visa.

Recently, money transfer company, TransferGo announced its partnership with payments platform Currencycloud in a bid to facilitate cross border payments and assist its launch in 14 new markets in the Q1 2020.

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