Currencycloud nabs $80M from Visa, World Bank Group and more for its cross-border payments API

Currencycloud nabs $80M from Visa, World Bank Group and more for its cross-border payments API

4 years ago
Anonymous $yQ5BfQaAxy

https://techcrunch.com/2020/01/26/currencycloud-nabs-80m-from-visa-world-bank-group-and-more-for-its-cross-border-payments-api/

Sending money from one country to another — either because you are a business paying someone for a service, or a family member working abroad and sending money back home, or something in between — is a huge business, worth some $700 million annually. Today, a London startup called Currencycloud, which has built a set of remittance APIs that let any financial business integrate money transfer services into its platform, is announcing that it has raised $80 million to tap into that opportunity, and to help take on the Western Unions of the world.

To date, over $50 billion has been transferred between some 180 countries using Currencycloud’s 85 APIs, which cover areas like inbound money collection (helping clients get paid), foreign exchange, outgoing payments, and digital wallet services managing multiple currencies and more.

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