Currensee Inc., a Boston, MA-based Forex trading social network that connects traders from around the world based on real-time trades, has secured $8m in Series B financing for total funding of $12m.
The round, led by Northbridge Venture Partners, includes new investor Egan-Managed Capital.
In conjunction with the funding, Travis D. Connors, partner at Egan, will join the company’s board of directors.
Currensee enables members of its network coming from over 70 different countries to see each other’s actual trades and positions, trading strategies and performance to make more informed trade decisions.
The financing will enable the company to accelerate expansion in the UK, Europe, and Asia, where Forex trading continues to grow quickly.
In addition, funds will be used to develop the following products:
– the Currensee Market Watch, a real-time social sentiment indicator that shows what traders are doing based on actual trades, and will include advanced data options, such as real-time market depth, and new customization features.
– the Currensee Trade Leaders program, a Forex social trade automation service that allows traders to follow the most successful trade leaders in the Currensee platform and create their own Forex investment portfolios.