CurrencyFair raises $2.5m from Frontline Ventures

The fresh funding will be used to enhance the firm's product development and keep funding its global growth strategy. CurrencyFair has raised $10m in venture capital funding in the last three years.

Frontline usually backs seed and series-A funding rounds, with seed investments ranging from €100,000-750,000 and series-A investments of €1-2m.

Company
CurrencyFair offers clients to transfer and exchange funds overseas, skipping the 'middle man' and thus avoiding bank fees. CurrencyFair currently offers exchange transactions in 17 different currencies.

The firm is regulated by the the Australian Securities and Investments Commission and the Central Bank of Ireland under the Europe-wide Payment Services Regulations 2009. Founded in 2009, CurrencyFair is based in Dublin.

People
Brett Meyers is CurrencyFair's co-founder and managing director. David Christian is also CurrencyFair's co-founder, as well as the firm's director. Will Prendergast is a partner at Frontline.

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• Topics
• UK / Ireland
• Consumer
• Expansion
• Ireland