Visa to acquire cross-border payments fintech Currencycloud
The lines between traditional payments networks and fintech continue to blur with Visa's acquisition of the London-based firm. Visa officially announced Thursday that it signed a definitive agreement to acquire Currencycloud, a fintech platform supporting about 500 banking and technology clients across more than 180 countries.The new acquisition aims to improve Visa’s foreign exchange business and expand them to serve financial institutions, fintechs and partners. The deal will specifically improve Visa’s payment transparency and speed, the company’s global treasurer Colleen Ostrowski....
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Currencycloud, a company that specializes in helping businesses make payments across geographies, has raised $25 mln in Series D funding from GV (formerly Google Ventures). The London-based company has also secured additional funding from existing investors like Notion Capital, Sapphire Ventures, Rakuten FinTech Fund and Anthemis. After the GV funding, funding for the five-year-old company now amounts to $61 mln. Connective tissue. Currencycloud has 200 customers in 35 countries and millions of end-users use their platform through a diverse set of payment providers. Some of the....
Currencycloud, a London fintech world leader in cross-border payments, announced that it has raised £20 million ($25 million) from Google’s venture capital arm, GV, according to a company statement. GV, the venture capital arm of Alphabet, Inc. and formerly known as Google Ventures, joins other investors to the five-year-old startup for the series D round, including Notion Capital, Sapphire Ventures, Rakuten FinTech Fund and Anthemis. This high-profile investment gives the sector a much-needed boost following fears post-Brexit and pushes funding for the company to £44 million ($61....
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Visa is working on a blockchain-based solution for cross-border, business-to-business exchange called Visa B2B Connect. Cross-border payments between businesses is a complex market that is fraught with problems but is lucrative nonetheless, a potential that Visa seems eager to tap into. Visa Unveils its Collaborative Project. Visa, in collaboration with tech start-up, Chain Inc., unveiled the project on October 21, 2016. Chain, a startup that Visa happens to be an investor in, has also worked with Google, Salesforce, Microsoft, Square, and among others in the past. Visa B2B Connect seems....