back Back

Currencies Direct completes £165 million dividend recapitalisation

By Megha Bhattacharya

March 18, 2021

Share

currencies directDigital foreign exchange and international payment service provider Currencies Direct today announced that it has completed a £165 million dividend recapitalisation provided by CVC Credit and Alcentra. The company aims to accelerate growth further through new products such as multi-currency wallets, new verticals, global expansion and further M&A. It has recently signed an exclusive white label agreement to provide FX services to Hargreaves Lansdown, a wealth manager in the UK with approximately 1.5 million active clients.

Keith Hatton, Chief Executive of Currencies Direct, said, “Currencies Direct is at an exciting turning point, and our continued investment in technology has set the stage for a new phase of transformative growth. Our recent wealth management contract wins and growing global footprint – including through the recent opening of our new office in Singapore – underline our success in pursuing new expansion initiatives.”

Currencies Direct focuses on high-value transactions and the mass affluent segment of the FX market, as well as SMEs. Currencies Direct combines a full-stack, fully digital offering with an expert-led customer service model that allows it to cater to the universal needs of its target customer segments.

Recently, Currencies Direct announced the appointment of Pedro Batista as its Chief Payments Officer. The new hire is expected to supervise the company’s payments strategy including the management of banking relationships and the delivery of payment solutions, assist in the enhancement of the company’s product range and improve client experience.

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Article

March 18, 2021

FinTech start-up YAP raises $10 mn in Series B funding

Read More
Next Article

March 18, 2021

Neobank Tonik has now launched in the Philippines

Read More

IBSi Prime News

Embedded Finance

September 24, 2021

European brands increasingly looking at embedded finance, but barriers still exist

Read More
  • Daily in-depth news analysis
  • Weekly chart curated via IBSi research
  • Exclusive weekly Financial Technology use case
Subscribe to Prime

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

August 11, 2021

Wahed migrates to WealthKernel’s APIs to support the UK app launch

Read More

August 10, 2021

Rapyd to power PromptPay Payments for Thailand’s Google Play users

Read More

August 10, 2021

Kroo raises £17.7 million in a Series A funding round

Read More

Related Reports

Pages

Bank-wide
Core Banking Market Dynamics Report 2021

£2,000 / year

Know More

Pages

Market Reports
US Financial Services Technology Report 2021

£1,500 / year

Know More

Pages

Retail Banking
Core Banking Market Dynamics Report 2021

£2,000 / year

Know More

Pages

Wealth Management
Wealth Management & Private Banking Systems Report 2021

£1,500 / year

Know More

Pages

Wholesale Banking
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More