Venture capital firm, Notion Capital has backed The Currency Cloud in a £2m investment.
The latest funding for the cloud-based currency conversion service follows an earlier £2.5m investment from Atlas Venture and the Anthemis Group.
As part of the deal, Notion Capital partner, Jos White will become a member of The Currency Cloud’s board, joining Sean Park from Anthemis and Fred Destin from Atlas.
Notion’s investment in the cloud-based international payments service is the venture capital firm’s first use of its recent $100m fund - received primarily from the UK Government via the Enterprise Capital Fund and the European Investment Fund.
The Currency Cloud, which was launched to market in 2012, plans to use the latest investment to aid expansion into new locations.
Mike Laven, CEO of The Currency Cloud said: “We are delighted to welcome Notion Capital to our team. Notion’s focus on cloud-based services is a valuable compliment to Anthemis’ specialisation in financial services and the broad technology experience of Atlas Ventures.”
He added: “The end-to-end, straight through processing that we offer through our TCC Connect platform is bridging the chasm between customer needs and the services currently on offer.
“Notion, Anthemis and Atlas provide the ideal mix of skills and experience to help us achieve our vision of being the go-to provider for currency conversion and international payment services.”