Visa putting British fintech Currencycloud on the card – The Times
Visa has agreed to buy Currencycloud, a British financial technology group that offers services designed to make it easier to move money around the world.
The American payments multinational swooped on the start-up, which is based in London, to strengthen its foreign exchange platform.
The deal, for an undisclosed sum, values Currencycloud at £700 million, inclusive of cash and retention incentives, according to the two companies. No further terms were revealed.
Currencycloud was founded in 2007 and has almost 400 staff. Investors in an $80 million funding round last January included Visa and Google Ventures, Alphabet’s venture capital division. With clients including Revolut and Visa, it has processed payments to more than 180 countries.
Mike Laven, 69, chief executive, yesterday hailed a “great day for
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