Currencycloud

Currencycloud is a global payment platform that serves businesses by providing technologies that makes payments from one to another much simpler. It is directly competing with incumbents such as Western Union and MoneyGram, providing a cheaper and more efficient alternative to the legacy technology traditionally used in the money-transfer sector.

Currencycloud has 85 different APIs across four modules – collect, convert, pay and manage – that cover the entire workflow in B2B cross-border payments. To date, it has transferred over $50b between 180 countries, helped in part by working closely with challenger banks including Monzo, Starling, Revolut and Moneze.

At the end of 2019, the company was working with more than 350 companies.

In January 2020, Currencycloud raised $80m in Series E funding. Its investors include Visa, BNP Parabas, SBI Group, GV, and the World Bank Group's International Finance Corporation. The company has stated the money will be used to focus on Asia, and open a new office in Singapore. Visa has also revealed it is to integrate Currencycloud's services into its own.

Launched in 2012, Currencycloud is based in London and is regulated in Europe, the U.S. and Canada.