CurrencyFair raises $8.9 million for online currency exchange

Dublin-based currency exchange marketplace CurrencyFair has raised €8 million (about $8.9 million) in a new funding round led by Octopus Ventures and appointed new chief marketing officer Nils Andén.

New investor Proxy Ventures and previous investor Frontline Ventures also participated in the round.

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Andén comes to CurrencyFair from Maltese online gambling operator Unibet where he was previously CMO and led its marketing team.

“Style gets you noticed but substance gets you remembered,” said Andén on joining the team. “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 Dublin company is targeting its growth at the US market and late last year announced plans to add 50 new employees. It previously raised €10 million (about $11.1 million) from Octopus and Frontline last April.

“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,” said CurrencyFair CEO Brett Meyers.

“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.”

This post first appeared on Tech.eu.