CurrencyFair, a Dublin, Ireland-based peer-to-peer currency exchange marketplace, raised $2.5m in funding.
Backers included Frontline Ventures and a number of angel investors.
The company intends to use the funds to continue to grow the business with plans to roll out a number of product enhancements and new features.
Launched in 2010 and led by Brett Meyers, CEO, CurrencyFair provides a peer-to-peer currency exchange that allows individuals to obtain the best possible exchange rate for 17 currencies, whilst avoiding expensive and bank charges. The service is widely used by expatriates working or living abroad and individuals running a business or purchasing property overseas.
The company is regulated by the Central Bank of Ireland under the European Communities Payment Services Regulations 2009.