Currency Cloud, a London, UK-based payments platform, secured $18m in Series C funding.
The round was led by Sapphire Ventures with participation from Rakuten (through its Rakuten FinTech Fund), Anthemis, Atlas Ventures, Notion Capital and XAnge Private Equity. In conjunction with the funding, Andreas Weiskam of Sapphire Ventures joined Currency Cloud’s board of directors.
The company, which has raised $36m since its launch in 2012, intends to use the funds for the growth of the business, support of further international expansion as well as continued investment in research, development and product upgrades.
Led by CEO Mike Laven, Currency Cloud has developed a Payment Engine which allows businesses to build and automate their products, benefiting from real time wholesale rates and a secure payment network via its APIs.
Today, the company works with over 125 platform customers and its service has reached more than 150,000 end-customers. It recently expanded its presence to the United States, with the opening of an office in New York.