Company hopes to accelerate its 'digital transformation' In the same week that TransferWise has been rumoured to be picking up a billion dollar valuation, foreign exchange (forex) giant Travelex has launched a £25m fund to get involved in the digital revolution. The first of its kind in the forex sector, Travelex will use the fund to make strategic seed investments and tech acquisitions as it hopes to develop a range of new products. Older foreign exchange businesses have been put under pressure in recent years by a plethora of startups trying to claim their turf and Travelex has also announced a major recruitment drive for digital talent.

http://techcitynews.com/2014/11/13/travelex-launches-25m-fund-to-fight-transferwise/