Visa To Buy Orrick-Led Fintech Currencycloud At $962M Value

By Elise Hansen (July 22, 2021, 5:02 PM EDT) -- Visa said Thursday it will acquire foreign-exchange platform Currencycloud in a deal that values the Orrick-advised financial technology company at £700 million ($962 million).

Visa already owns a stake in Currencycloud and has an existing partnership with the company, the announcement said. Currencycloud provides foreign-exchange technology for banks and fintechs, with a focus on cross-border payments. Its platform allows real-time notifications and mutlicurrency wallets and has close to 500 banking and technology clients, according to the announcement.

Visa said the technology would bolster its existing foreign-exchange services as well as provide new avenues for business. It also emphasized the growth in...

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