Visa Acquires Currencycloud at a Valuation of £700M

Visa Inc announced that it has signed a definitive agreement to acquire British cross-border payments provider Currencycloud at a valuation of £700 million. 

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​Currencycloud will strengthen Visa's existing Forex capabilities by extending them to better serve financial institutions, fintechs and partners while enabling new use cases and payment flows. Currencycloud will accelerate the time-to-market and improve payment transparency for clients looking to offer flexible, digital-first, international payment services that provide better visibility and control to consumers and businesses around the world.

The addition of Currencycloud's capabilities to Visa's network will widen access to innovative international payment products that help businesses meet their cross-border needs.

"The acquisition of Currencycloud is another example of Visa executing on our network of networks strategy to facilitate global money movement," said Colleen Ostrowski, Visa's Global Treasurer. "Consumers and businesses increasingly expect transparency, speed and simplicity when making or receiving international payments. With our acquisition of Currencycloud, we can support our clients and partners to further reduce the pain points of cross-border payments and develop great user experiences for their customers."

"At Currencycloud, we’ve always strived to deliver a better tomorrow for all, from the smallest start-up to the global multi-nationals. Re-imagining how money flows around the global economy just got more exciting as we join Visa," said Mike Laven, Chief Executive Officer, Currencycloud,"the combination of Currencycloud's fintech expertise and Visa's network will enable us to deliver greater customer value to the businesses moving money across borders."