Think 2016 will be a though year for FX with increasingly partnerships to make a B2B2C model work and reduce CaC.
CurrencyFair, one of a number of so-called peer-to-peer currency exchanges, has scored a further €8 million in funding. The round was led by Octopus Ventures, with participation from Proxy Ventures. It brings total raised by the 2010-founded company to around €20 million — a figure that is dwarfed by noisy rival TransferWise, which closed $58 million in Series C funding last year alone. At the same time, the Ireland-based startup is announcing the appointment of Unibet Group PLC’s former CMO Nils Andén. The marketeer will help CurrencyFair further differentiate its currency exchange from other claimed p2p-based exchanges, as well as continue the narrative, propagated most nakedly by TransferWise, that these fintech upstarts are set to give the banks a run for their money with fairer exchange rates and more transparent fees.
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