About CurrencyFair
CurrencyFair is a company based in Dublin (Ireland) founded in 2010.. CurrencyFair has raised $23.06 million across 4 funding rounds from investors including Enterprise Ireland, Octopus Ventures and Frontline Ventures. CurrencyFair has completed 2 acquisitions, including Convoy and Convoy Payments. CurrencyFair offers products and services including Money Transfer Service, Currency Exchange, and Rate Alerts. CurrencyFair operates in a competitive market with competitors including Wise, TransferGo, Remessa Online, Western Union and Intermex, among others.
- Headquarter Dublin, Ireland
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Sectors
Financial Services
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Phone
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Website
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Social
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- Legal Name Currencyfair Limited
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$23.06 M (USD)
in 4 rounds
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Latest Funding Round
$8.98 M (USD), Series B
Mar 23, 2016
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Investors
Enterprise Ireland
& 3 more
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Employee Count
Employee Count
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Investments & Acquisitions
Convoy
& 1 more
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Products & Services of CurrencyFair
CurrencyFair offers a comprehensive portfolio of products and services, including Money Transfer Service, Currency Exchange, and Rate Alerts. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Secure platform for sending international funds with low fees.
Tool for converting currencies at competitive rates online.
Feature to monitor and alert on favorable exchange rates.
Funding Insights of CurrencyFair
CurrencyFair has successfully raised a total of $23.06M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $8.98 million completed in March 2016. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series B — $9.0M
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First Round
First Round
(19 Jul 2011)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2016 | Amount | Series B - CurrencyFair | Valuation | Octopus Ventures | |
| Apr, 2015 | Amount | Series B - CurrencyFair | Valuation | Octopus Ventures | |
| Nov, 2013 | Amount | Series A - CurrencyFair | Valuation | Frontline Ventures |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in CurrencyFair
CurrencyFair has secured backing from 4 investors, including venture fund and institutional investors. Prominent investors backing the company include Enterprise Ireland, Octopus Ventures and Frontline Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital investment and support for founders in technology and health sectors.
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Founded Year | Domain | Location | |
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Venture capital firm focused on B2B companies
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Founded Year | Domain | Location | |
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Tech focused VC firm investing in the UK and Finland
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by CurrencyFair
CurrencyFair has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Convoy and Convoy Payments. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Prepaid fuel cards are issued for consumer payment needs.
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2016 | ||||
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A money management platform is offered by Convoy.
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1993 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - CurrencyFair
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Currencyfair Comparisons
Competitors of CurrencyFair
CurrencyFair operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Wise, TransferGo, Remessa Online, Western Union and Intermex, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cross-border remittances are enabled for individuals and businesses via apps.
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| domain | founded_year | HQ Location |
Cross-border remittances are enabled for consumers and businesses.
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| domain | founded_year | HQ Location |
International payments are enabled online for consumers and businesses.
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| domain | founded_year | HQ Location |
Provider of remittance services
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| domain | founded_year | HQ Location |
Cross-border remittances are enabled for individuals and businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Currencyfair
Frequently Asked Questions about CurrencyFair
When was CurrencyFair founded?
CurrencyFair was founded in 2010 and raised its 1st funding round 1 year after it was founded.
Where is CurrencyFair located?
CurrencyFair is headquartered in Dublin, Ireland.
Who is the current CEO of CurrencyFair?
Jan Lorenc is the current CEO of CurrencyFair.
Is CurrencyFair a funded company?
CurrencyFair is a funded company, having raised a total of $23.06M across 4 funding rounds to date. The company's 1st funding round was a Series A of $2.5M, raised on Jul 19, 2011.
What does CurrencyFair do?
CurrencyFair was founded in 2010 in Dublin, Ireland, as a fintech platform specializing in cross-border money transfers. Accounts are set up by users, followed by deposits via bank transfer. Amounts and currencies for sending are specified, along with recipient details. Business accounts are offered for paying overseas suppliers, settling foreign invoices, and receiving international client payments. The service is accessible via iOS and Android apps.
Who are the top competitors of CurrencyFair?
CurrencyFair's top competitors include Wise, TransferGo and Remessa Online.
What products or services does CurrencyFair offer?
CurrencyFair offers Money Transfer Service, Currency Exchange, and Rate Alerts.
How many acquisitions has CurrencyFair made?
CurrencyFair has made 2 acquisitions, including Convoy, and Convoy Payments.
Who are CurrencyFair's investors?
CurrencyFair has 4 investors. Key investors include Enterprise Ireland, Octopus Ventures, Frontline Ventures, and Proxy Ventures.
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