Orrick is advising Currencycloud, a London-based global platform that enables banks and fintechs to provide innovative foreign exchange solutions for cross-border payments, on its definitive agreement to be acquired by Visa for up to £700 million. Currencycloud will strengthen Visa’s existing foreign exchange capabilities by extending them to better serve financial institutions, fintechs and partners while enabling new use cases and payment flows.
Currencycloud will continue its operations from its headquarters in London and will retain their current management team. The transaction, which is expected to close in Q4 2021, is subject to regulatory approvals and other customary closing conditions.
The Orrick London team is led by James Connor and includes Ylan Steiner, Elizabeth Monro-Davies, Kirstie Parr, Faraaz Samadi, Douglas Lahnborg, Janine Suttie, Saira Henry and Natasha Ahmed. Orrick previously advised Currencycloud on its prior fundraising rounds.