VCs inject £2.4m funding into Currensea
Summary
Cardholder numbers have more than doubled to 45,000, while a crowdfunding campaign in June successfully raised \xa32m via the Seedrs platform, smashing the original target of \xa31m in just two hours. Dr Reuben Wilcock, Head of Ventures at Blackfinch said: We were hugely impressed by the drive and ambition of the Currensea team, who have created the UKs first direct debit travel card. We are thrilled that a Fintech company, such as Currensea, has successfully combined the convenience of open banking, significant FX savings when travelling abroad, and a seamless giving function to deliver on its strong societal purpose. James Lynn, Co-Founder of Currensea, comments: This latest investment - which follows a hugely successful crowdfunding campaign earlier this year - is further evidence that there is a strong demand for an alternative to the foreign exchange trap that weve all been forced to endure for too long. We know customers love the simplicity of our money-saving solution, and now it is clear that investors see it as the answer to a fairer travel money market.