The Currency Cloud raises $10m series-B

Existing investors Atlas Ventures, Anthemis Group, Notion Capital and XAnge Private Equity committed further funding, alongside Silicon Valley Bank.

The company will use the fresh funding to refine its platform and expand into new geographies.

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. In November, XAnge injected a further £1.2m into the business.

Company
Founded in 2011 and based in London, The Currency Cloud is a software-as-a-service company that processes international payments. Customers include payments firms such as Transferwise, banks including Fidor Bank and e-commerce solutions companies such as Sofort. Users are able to connect via an API and access a global network for secure international payments.

The number of transactions processed through its network is understood to have grown twelvefold year-on-year in the past 18 months. The Currency Cloud transfers billions of dollars internationally per year.

People
Herve Schricke, CEO of XAnge, sits on The Currency Cloud's board, alongside Fred Destin of Atlas, Jos White of Notion and Sean Park of Anthemis. Erin Lockwood is managing director of commercial banking at Silicon Valley Bank.

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• Topics
• UK / Ireland
• Technology
• Expansion
• United Kingdom
• XAnge Private Equity