Currencycloud has raised $80 million in a Series E funding round which included Visa, BNP Paribas and Siam Commercial Bank.

International Finance Corporation - a member of the World Bank Group - and SBI Group also joined the round, alongside existing backers Sapphire Ventures, Notion Capital, GV, Accomplice and Anthemis.

The latest round brings the company’s total funding to over $140 million.

Since its launch in 2012, the London-based business to business (B2B) payments startup has processed more than $50 billion in cross-border payments. Last year it signed Visa as a client, adding to the likes of Monzo, Revolut and Bottomline.

The business stated it will use the new investment to expand its portfolio of payment methods and develop a partner ecosystem. Currencycloud also revealed that it is looking to expand in Asia and North America, bringing new staff in to help with the growth plans.

Chief executive Mike Laven commented: “Transfer of value is fast becoming the newest layer in the modern technology stack, and Currencycloud is positioned to provide the infrastructure to make this happen.

“With these new strategic investors, we are well placed to be the go-to provider for the next wave of fintech innovation.”

A statement concluded that the company will be adding integration with "major software platforms", as well as alternate payment methods to its product offering, such as mobile wallets, instant payments and cards.

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