Sapphire et al. in $18m series-B for Currency Cloud

Existing backers Anthemis, Atlas, Notion Capital and XAnge also took part in the round.

The fresh capital will be used to finance the company's expansion into the US and the launch of a New York office.

The London fintech sector has enjoyed a flurry of investments in recent months. In 2015 alone, Frog Capital has led a $20m series-B funding round for Azimo, Technology Crossover Ventures has led a $100m series-B for WorldRemit and Andreessen Horowitz has led a $58m series-C for Transferwise.

Previous funding
In March 2012, Atlas Venture joined existing investor Anthemis Group in a $4m series-A round for the firm. In July that year, Notion Capital committed £2m to the company, according to unquote" data, before XAnge invested a further £1.2m three months later.

Atlas, Anthemis, Notion Capital and XAnge then took part in a $10m in a series-B funding round in April 2014, alongside Silicon Valley Bank

Company
Founded in 2011 and headquartered in London, Currency Cloud is a software-as-a-service company that processes international payments. It has around 100 clients including Transferwise, XE, Fidor Bank and Payoneer.

People
Herve Schricke, CEO of XAnge, sits on Currency Cloud's board, alongside Fred Destin of Atlas, Jos White of Notion Capital and Sean Park of Anthemis.

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• Topics
• Expansion
• UK / Ireland
• Financials
• United Kingdom