If you haven’t heard of ‘The Currency Cloud’ you’re sure to recognise some of the digital banks and money transfer companies it powers. The expert team at Currencycloud is there for firms who are struggling to find a cross-border payment solution for their clients or modernise their payment infrastructure. Since inception, Currencycloud has processed more than $80 billion in payments and facilitated transfers to more than 180 countries around the world.Ĭurrencycloud firmly believes embedded finance is the future, and that every financial services company will eventually be a fintech company. Nowadays, Revolut sends over 66,000 payments a month through Currencycloud’s payment infrastructure. The partnership has been running for seven years – a time that saw Revolut’s valuation soar to over £33 billion, making it one of the UK’s highest valued fintechs. The Currencycloud Revolut partnership is arguably the most successful integration the company has had. The Visa Currencloud move made a lot of sense, building on an existing partnership between Visa & Currencycloud which supports over 500 banking and technology clients. Most recently, Currencycloud was acquired by Visa in December 2021, valuing the firm at £700 million. The firm has completed a number of funding rounds, raising over $160 million to date from names that include BNP Paribas and GV (Google Ventures). View Offer from Send Payments Visa / Currencycloud Some Australian payment companies like Send had already been using Currencycloud for payment services in the UK & Europe but the new licence will allow the tech firm to help international businesses operate in Australia itself.
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In June 2022, Currencycloud gained an AFS licence to offer its full suite of products throughout Australia. A usually troublesome area for payment providers, this offers a genuinely unique solution. In the same month, the firm also partnered with Moov to provide local domestic payment capabilities for its clients in the US. It’s likely the FX spread will be wider than midweek in order to account for volatility risk.
In March 2022 Currencycloud launched 24/7 weekend payments for its clients, meaning that customers can continue to operate their businesses and execute FX conversions in exactly the same way they do throughout the week. As a remote-first company, they now have around 400 employees and continue to grow fast.Ĭurrencycloud continues to invest heavily in its API platform and payment infrastructure to this day. Originally launched in London, has grown to include offices in Cardiff, New York, Amsterdam and Singapore. What started as a simple FX tool evolved into a full-scale Software-as-a-Service solution for payment providers worldwide. Whether that’s to small payment providers or multinational banks. Founded in 2012, it’s grown beyond being a start-up, to a company able to provide full-scale financial infrastructure and enterprise-class solutions all over the world. Given Currencycloud does not provide its services directly to users, we’ve compiled this non-standard review of Currencycloud, helping to explain questions like who is Currencycloud? What does Currencycloud do? And, who uses Currencycloud? Who is Currencycloud?Ĭurrencyloud is one of the hottest fintechs to hit the money transfer scene, period.
As a B2B technology provider, they’ve been referred to as “the secret pipes powering the vast majority of Fintechs”. Read more about Alon Rajic Last Edited Jan 22, 2023Ĭurrencycloud (registered name The Currency Cloud Limited) is probably the largest fintech you’ve never heard of.
His financial commentary could be found on INC, Forbes, Entrepreneur, The Motley Fool,, Yahoo! Finance and more. He was previously a senior manager for XLMedia PLC (LON:XLM). Alon Rajic is the managing director of Finofin, the company behind Money Transfer Comparison.
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