UK-based cross-border payment platform CurrencyCloud raised $80m in series E funding today from investors including payment services provider Visa and financial services firms BNP Paribas, SBI Group and Siam Commercial Bank.
The new investors joined existing backers GV, which invests on behalf of internet and technology group Alphabet, as well as International Finance Corporation, Sapphire Ventures, Notion Capital, Accomplice and Anthemis.
The round was co-led by Visa and Sapphire Ventures according to CNBC, and it increased the company’s overall funding to $141m.
CurrencyCloud has built a platform for cross-border payment that enables businesses to collect funds, convert capital into different currencies, manage cash across a range of countries and make international payments themselves.
FT Partners advised Currencycloud and its board of directors on the round. Colleen Ostrowski, a senior vice-president at Visa and also its treasurer, is joining the board in conjunction with the round.
Ostrowski said: “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.”
GV, Sapphire Ventures, Notion Capital and Anthemis had previously contributed to the company’s $25m series D round in 2017 alongside e-commerce firm Rakuten’s FinTech Fund.
CurrencyCloud had already secured $18m two years earlier, in a series C round led by Sapphire Ventures and backed by Rakuten FinTech Fund, Anthemis, Notion Capital, Atlas Venture and Xange Private Equity.
