Sources: Currencycloud, the API for cross-border payments, has raised ~£32M in first part of a Series E round
Currencloud, the provider of an API and service for cross-boarder payments that is used by a host of fintechs and larger companies, including most recently Visa, has closed the first part of closing in on Series E funding.
According to sources, the 7 year old London headquartered company announced internally that it was closing in on new funding round a few weeks ago, while a recent regulatory filing reveals that the Series E totals just shy of £32 million in Series E shares so far. However, I understand that this is just tranche one, and that additional Series E funding will follow within the next 2-3 months when the round will be officially announced. Tranche one also consists of two slightly different share prices as it sees earlier debt financing converted into equity.
With regards to who is backing Currencycloud’s Series E, one source tells me Goldman Sachs is in the running and is possibly leading the round. Existing investor GV (previously Google Ventures) is said to me following on. I’m also hearing that another new investor could be Spanish bank Santander, via its venture arm Santander Ventures, in what would signal a significant strategic investment and/or partnership. Currencycloud declined
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