Home FinTech CurrencyCloud secures £20 million funding to fuel expansion

CurrencyCloud secures £20 million funding to fuel expansion

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Fast-growing fintech startup CurrencyCloud has raised £20 million in Series D funding with a new investment from Google’s GV and additional capital from existing investors – Notion Capital, Sapphire Ventures, Rakuten FinTech Fund, and Anthemis.

More than 150 companies currently use Currency Cloud as an embedded engine for handling payments at more than 500,000 end users. Klarna, Travelex, Standard Bank, Revolut and Azimo, have all built products using Currencycloud’s suite of APIs, routing up to $25 billion in payment flows.

The latest round of funding for the five-year old company comes on top of a £12 million round in June 2015 and brings total funding to date to £44 million.

Mike Laven, CEO of Currencycloud says: “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 globalise fast. We are seeing massive and increasing demand for these services, with volumes growing over 150% last year.”