Overview of Transaction

• On July 22, 2021, Visa announced it has signed a definitive agreement to acquire Currencycloud for £700 million (~$1 billion), inclusive of cash and retention incentives
• Launched in 2012, Currencycloud is a comprehensive B2B cross-border infrastructure product that enables clients to build their own “platform” by offering different APIs across five modules – collect, convert, manage, pay, and Currencycloud spark
• Currencycloud is headquartered in London with offices in New York, Amsterdam, Cardiff & Singapore. Since 2012, the company has processed more than $100 billion to over 180 countries

Significance of Transaction

• Currencycloud will strengthen Visa’s existing foreign exchange capabilities by extending them to better serve financial institutions, FinTechs and partners while enabling new use cases and payment flows
• Currencycloud will accelerate the time-to-market and improve payment transparency for clients looking to offer flexible, digital-first, international payment services that provide better visibility and control to consumers and businesses around the world
• The addition of Currencycloud’s capabilities to Visa’s network will widen access to innovative international payment products that help businesses meet their cross-border needs

FT Partners' Role

• FT Partners served as exclusive strategic and financial advisor to Currencycloud
• FT Partners previously advised Currencycloud on its $80 million Series E financing in 2020
• This transaction underscores FT Partners’ deep domain expertise and unrivaled track record in the FX / Cross Border Payments space