Currencyfair, the fintech firm based in Dublin, received an investment worth $35m (€30m) from UK-based financial services giant Standard Chartered.
The investment was agreed as Currencyfair merged with the Australian fintech company Assembly Payments, announced in April.
Companies Registration Office filings published last week revealed details of the deal. They showed Standard Chartered had made the $35m investment, while companies including Dax Ventures and Kima Ventures also received shares.
In a blog post made by Currencyfair in April, the Dublin-based fintech company said it was to merge with Assembly Payments “as a result of a strategic investment by Standard Chartered Ventures”. Financial details of any investment made by Standard Chartered, which partially owns Assembly Payments, were not disclosed.
Paul Byrne, president and chief executive of CurrencyFair, who will lead the new business, said the merger was a “natural evolution” for the company at the time of the announcement. Employee numbers will rise from 85 to 160. It also plans to grow to more than 450 people over the next four years.
CurrencyFair, founded in 2010 by Brett Meyers, provides a money-exchange platform to consumers and businesses to help them avoid significant charges for exchanging foreign currency.
Assembly Payments was founded in Melbourne in 2013. It helps customers automate payment workflows and reduce the complexities of running a business. Standard Chartered invested in it in 2020.