18 October 2017

Currensee raises $8 million funding to fuel international expansion

23 February 2010  |  3106 views  |  0 cash

Currensee, a social media platform for foreign exchange traders, has secured $8 million in Series B funding, which it will use to finance expansion into international markets in the UK, Europe and Asia.

Led by Northbridge Venture Partners, the round includes new investor, Egan-Managed Capital and brings the total financing raised by the Boston-based venture to $12 million. Two million dollars of the $8 million total detailed today was already booked when the venture announced its first round of funding back in October last year.

"Currensee is one of the most disruptive companies we've seen in the financial services sector," says Jim Moran, general partner at Northbridge Venture Partners. "In a space that has been viewed as the Wild West for investors, the Currensee team has made tremendous progress -- bringing transparency, collaboration and innovation to the Forex industry for the first time."

Since launch in October last year, the start-up claims to have attracted members from over 70 different countries, who have linked their live brokerage accounts with one of the 100+ brokers supported by the platform. Currensee members can view each other's actual trades and positions, trading strategies and performance to make more informed trade decisions.

In November, the company announced plans to start issuing its own virtual currency which can be exchanged for goods and services over the site.

Alongside international expansion, the new financing will also fund new features, including sentiment indicators, real-time depth of market data and a new 'trade leaders' programme highlighting the most successful traders on the platform.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Forex social media start-up creates own currency

Forex social media start-up creates own currency

19 November 2009  |  9263 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.capgemini.comvisit www.vasco.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15315 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8496 views comments | 16 tweets | 22 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
8017 views 0 | 8 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7540 views comments | 13 tweets | 9 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6640 views comments | 8 tweets | 16 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job