Finance

Currencycloud raises $80 million in funding round backed by Visa

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Visa Inc. credit and debit cards are arranged for a photograph in Washington, D.C., U.S., on Monday, April 22, 2019.

Andrew Harrer | Bloomberg | Getty Images

Financial technology start-up Currencycloud, which powers cross-border payments for a number of popular finance apps, has raised $80 million in a funding round backed by Visa.

Based in the U.K., Currencycloud sells payment software for banks and fintech firms to process their international transactions. Though not as well-known as consumer-focused peers like Monzo and Revolut, the company provides some of the crucial “plumbing” in the background for such apps to operate.

“We call the segment embedded finance,” Currencycloud CEO Mike…



Source cnbc.com

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