
Existing investors participate in $80m round for Currencycloud
Venture capital investors Sapphire Ventures, Notion Capital, GV, Accomplice and Anthemis Group have returned to invest in portfolio company Currencycloud, a remittances business, in a $80m funding round.
Visa, the World Bank Group's International Finance Corporation, BNP Paribas, SBI Group and Siam Commercial Bank also invested. The round gives the company a valuation of around $500m, according to TechCrunch.
The company plans to focus on Asia following the funding round, opening a new office in Singapore.
Previous funding
In March 2012, Atlas joined existing investor Anthemis in a $4m series-A funding round, which followed an initial $2m round by Anthemis and others. In July that year, Notion Capital invested another £2m and in October XAnge Private Equity invested £1.2m.
In 2014, Atlas Ventures, Anthemis, Notion Capital and XAnge committed $10m in funding, alongside Silicon Valley Bank.
Sapphire Ventures and Japanese corporate Rakuten took part in an $18m series-C for the company, with participation from existing investors in 2015.
In 2017, GV (formerly Google Ventures) led a £20m series-D round of funding, with participation from Notion Capital, Sapphire Ventures, Rakuten and Anthemis.
Company
Founded in 2012, Currencycloud allows cross border and multi-currency transactions from a single platform. Its software-as-a-service platform allows developers to integrate the functionality into existing software. The company is based in London.
The company reported revenues of £20m and an operating loss of £8.7m for 2018.
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater