International funds platform supplier Currencycloud has scooped up one other £20 million ($25 million) in a Collection D spherical led by new entrant GV (previously Google Ventures), with participation from current traders, together with Sapphire Ventures, Notion Capital, Rakuten FinTech Fund, and Anthemis.
Based out of London in 2012, Currencycloud doesn’t all the time garner the identical consideration as fellow London fintech corporations like TransferWise, Azimo, or World Remit, however Currencycloud (referred to as “Currency Cloud” till not too long ago) has really served because the engine that powers the worldwide cost mechanisms behind these corporations, among many others. Currencycloud permits different corporations to construct apps and providers utilizing its cost and foreign money conversion software programming interfaces (APIs). The corporate says that it has facilitated round $25 billion in transactions throughout greater than 200 countries.
“In recent years we have seen the rise of the building block economy,” explains Mike Laven, CEO of Currencycloud. “Companies can combine services such as AWS, Google Maps, Stripe, and Twilio to build innovative new businesses fast and without the overhead of expensive proprietary systems.”
Prior to now, Currencycloud had raised round $35 million, including an $18 million round again in 2015. With this newest money injection, it plans to double down on its world efforts because it “reimagines the way money flows through today’s digital economy,” in keeping with an organization assertion.
GV, as you may anticipate, has a variety of big-name corporations in its portfolio, together with Uber, Nest (now owned by Google), Jet, TuneIn, HubSpot, and Slack. It additionally has a sprinkling of fintech corporations, similar to Stripe, Robinhood, Gusto (previously ZenPayroll), and OnDeck.
Put merely, Currencycloud is in good firm.
“We believe in empowering developers by making it easier for them to add scalable services to their products, ideally with simple APIs,” added GV normal accomplice Tom Hulme. “Currencycloud is the leader in providing cross-border payment services in this manner, a real need as companies globalize.”