Visa invests $80m in Currencycloud

Currencycloud has raised $80 million in a Series E funding round. It is a London based B2B cross-border payments outfit. The fund raising round was joined by blue-chip investors such as Visa, BNP Paribas and Siam Commercial Bank. Apart from existing backers like Sapphire Ventures, Notion Capital, GV, Accomplice, and Anthemis, it is also joined by International Finance Corporation (a member of the World Bank Group) and SBI Group.

Currencycloud has processed more than $50 billion in cross-border payments till date. The company has signed Visa as a client last year. Other major banking and fintech brands are Monzo, Revolut and Dwolla.

The firm will use the funding to expand its portfolio of payment methods and develop its partner ecosystem. Having signed SBI and Siam up as investors, Currencycloud is now looking to expand in Asia, as well as North America.

Finally, the company is planning to invest in talent, with CEO Mike Laven insisting that this will include, despite Brexit, a growing UK team.