Visa to buy London based cross-border payment startup Currencycloud for $960M



On Thursday, Visa Inc. the world’s leader in digital payments, said that it would be buying Currencycloud, a London based cross-border payments platform for £700 million which is approximately $960.1 million. The platform lets banks and financial service providers offer currency exchange services.


Visa had already given $80 million in funding to the startup last year along with Google’s parent Alphabet’s venture capital arm GV, BNP Paribas, a French bank and SBI Holdings, a Japanese financial services firm. Sources said that the startup had a value of $500 million at its last funding round and is getting a sweet deal from Visa, although the amount in equity that Visa already possesses will be reduced from the final price.


Currencycloud was founded in 2007 in London. It has about 500 customers in about 180 countries. It has processed more than $100 billion since 2012. It is used by many of the biggest startups and othe companies such as


  • Monzo
  • Moneze
  • Starling
  • Revolut
  • Dwolla
  • Starling Bank
  • Penta
  • Lunar


It will continue servicing these customers, while Visa will use its technology to offer a wider range of services to its existing customers such as


  • Financial institutions
  • Fintechs
  • Consumers


Currency transfers and remittances are among the fastest growing financial services. Both e-commerce and supply chains are extending across borders. A recent report said that about 48 percent of small businesses all over the world conducted international transactions or trade last year.


Many transactions are conducted using mobile services and cloud-based services as consumers are adopting a global outlook. Remittances and currency transfers are more often than not costly and inefficient and are ripe for disruption. Currencycloud embeds currency transfer into other financial services and makes them run more efficiently.  Huge companies like Visa find it easier to acquire such companies instead of building such operations from the scratch.


Currencycloud will continue to operate from London, with its team. Visa said that the acquisition has not as yet received regulatory approval. This could be Visa’s second major acquisition of the year as it also has a deal with Tink, a Swedish fintech for $2.1 billion.


Visa shares rose by 0.4 percent on Thursday morning. It saw a 23 percent increase in value due to the increase in digital payments during the pandemic.

Follow us on Google news for more updates and News


This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.

Full Disclaimer