Currensea secures £1.4m seed follow on funding via Seedrs to accelerate user growth.
The travel card provider surpassed its crowdfunding target in under two hours after drawing support from more than 350 private backers.
Currensea provides an open banking travel card that removes foreign exchange fees by linking directly to existing bank accounts.
Fintech startup Currensea has secured £1.4m in a seed follow on funding round via the crowdfunding platform Seedrs. The company surpassed its initial target in under two hours after drawing support from over 350 private backers.
The capital injection will be directed towards expanding the senior team and accelerating user acquisition. Currensea aims to scale its customer base to 300,000 users over the next two years as international travel rebounds towards pre-pandemic levels.
The fresh funding arrives amidst a growing cost of living squeeze, which has heightened consumer demand for alternative spending solutions that eliminate high bank charges abroad. The latest raise brings the total amount secured by the firm since its launch to £6.5m.
From the founder
"There has been phenomenal demand amongst investors, clearly demonstrating the scalability and need for a viable solution to the foreign exchange trap that we’ve all been forced to endure for too long."
James Lynn
Co-Founder at Currensea
Use of funds
- 01Grow the team
- 02Accelerate go-to-market
