The financial tech company Currencycloud has announced that it has raised $80 million in fresh funding. The funding is part of Series E funding. Now, the company enjoys new backing from global organizations such as Visa, International Finance Corporation, BNP Paribas, SBI Group, and Siam Commercial Bank. Existing partners Sapphire Ventures, GV, Accomplice, Anthemis and Notion Capital also participated in this round. The latest round brought the total funding up to $140 million.
The funding will help the company strengthen its position in the embedded cross-border payments. The fresh injection of money will also enable it to expand its portfolio of emerging payment methods and developing its partner ecosystem.
The company has processed over $50 billion in cross-border payments and counts the likes of Monzo, Starling, Visa, Bottomline, Dwolla, and Revolut among their customers.
“Currencycloud is re-imagining how money flows around the global economy and embedding it into platforms of the future,” said Mike Laven, CEO of Currencycloud.
He added: “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.”