Fintech startup Currencycloud has raised USD 80 million in funding from strategic investors including Visa, BNP Paribas, SBI Group, Siam Commercial Bank and the International Finance Corp.
Existing investors including Sapphire Ventures, Notion Capital and GV, formerly Google Ventures, also participated in the round.
The company will use the cash injection to fuel its global expansion plans and grow its suite of products.
Currencycloud processes cross-border payments for businesses, including European neobanks Monzo, Starling and Revolut.
At the end of 2019, the company made an update to its product line, with the launch of Currencycloud Spark, a solution providing multi-currency accounts for banks and Fintechs to collect, store, convert and pay in more than 35 currencies.
Looking to the future, the company will be adding integration with major software platforms, as well as adding alternative payment methods to its product offering such as mobile wallets, instant payments, and cards.
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