
CurrencyFair, a currency exchange platform, has raised USD2.5m investment from Frontline Ventures and a collection of angel investors. CurrencyFair claims to exchange money at a lower rate than banks.
The firm says capital will enable growth as well as funding the launch of new features: “The banking industry is going through the most significant disruption for years and CurrencyFair is at the forefront of the revolution. We allow our customers to take control of how they transfer their funds and save them money at the same time. We are very pleased to have secured $2.5 million funding from Frontline Ventures and several prominent angel investors, as the investment will provide us the opportunity to increase our awareness amongst our potential customer base and further develop and enhance our platform to ensure we continue to offer the best quality service to our customers”
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more