CurrencyFair, a Dublin-based currency exchange marketplace, has raised $8.9 million in a funding round, according to VentureBeat.
The funding was led by Octopus Ventures. A new investor, Proxy Ventures, and a previous investor, Frontline Ventures, also participated.
The Irish firm also named a new chief marketing officer, Nils Andén. He comes to the firm after having been with Maltese gambling firm Unibet, where he was also CMO.
In a statement, the new executive said: “Style gets you noticed, but substance gets you remembered. I have joined CurrencyFair, the first platform in the world to break the $1 billion barrier in transfers, and I believe I’ve joined the company with the most substance, both in having the best product in the industry but also in terms of how fairly it treats its customers.”
The Irish firm is looking to make inroads into other avenues of growth, including the United States market, and that would follow plans made at the end of last year to beef up its roster by 50 employees. In a funding round last April, it garnered $11 million in investments from Octopus and Frontline.
In a statement, Brett Meyers, the company’s chief executive officer, said: “We are the only true peer-to-peer currency exchange platform, and attracting people of the quality of Nils and the team at Proxy Ventures is a validation of the brilliant product and marketplace we have built.”
“Working with them will help us further develop our brand and the industry as something people and businesses can trust to save them money. Peer-to-peer currency exchange is approaching widespread adoption and now needs a more mature voice,” the executive continued.
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