Currensee grabs $8m to expand social network for traders

Currensee, a social network for foreign exchange traders, today announced it has secured a second round funding of $8 million to expand its presence in Europe and Asia as well as continue development of several new products.

Currensee is currently a membership community in beta testing that allows foreign exchange traders to share and collaborate ideas, insights and data based on daily trading activity. The company claims traders in over 70 different countries and 100 platform supported brokers.

Currensee has a host of trading tools to help make informed trade decisions, including RSS feeds, instant messaging and Facebook widgets which can all be accessed on the Currensee dashboard. More specific tools for trading, like Market Watch, Hot Topics and Community Historical Volatility, all give members insight into trading sentiment, discussion polls and support and resistance to the days trading activity from other members. Tweet My Trades gives members the ability to automatically tweet live trades to twitter. While a recent partnership with Thomson Reuters shows opening bell data and ongoing market updates.

Currensee could be most closely compared to StockTwits, a startup that lets members view people’s stock-related comments through microblogging service Twitter. Though StockTwits is moving towards a more social networking type platform, much like Currensee.

The recent round of funding, led by North Bridge Venture Partners, includes Egan Managed Capital and makes for total funding of $12 million. Travis D. Connors, partner at Egan, will join the Currensee Board of Directors.