CurrencyFair secures new sponsors for the plan of €20m growth

  • CurrencyFair secures new sponsors for the plan of €20m growth
    Independent.t. E.
    Conversion of the currency of the business CurrencyFair is plotting an attack on the Asian market after buying the Hong Kong business convoy of payments under EUR 20 million in the investment plan.
    https://www.independent.ie/business/irish/currencyfair-secures-new-backers-for-20m-growth-plan-37193736.html
    https://www.independent.ie/business/irish/article37193735.ece/ab394/AUTOCROP/h342/2018-08-08_bus_43094254_I1.JPG

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Conversion of the currency of the business CurrencyFair is plotting an attack on the Asian market after buying the Hong Kong business convoy of payments under EUR 20 million in the investment plan.

Suppressing the most part of the plan is financed by four investors, three of which are new patrons.

Hong Kong-listed global convoy, the previous owner of the escort of payments is on Board, if you like it, as Herbet European capital growth and Seligman private investment to choose.

Previous backer octopus enterprises also contributes to the plan.

CEO Paul Byrne has noted a wide variety of currencies in Asia in contrast to Europe, where many countries use the Euro – has made the continent attractive.

“Secondly, you have to look at the size of the market in relation to Europe. China alone has a population four times the Size of the EU,” added Mr Byrne.

“Asia is where we think most growth will come over time and we want to be part of this history.”

The company aims to create 90 jobs over the next 18 months as part of the investment plan.

Business achieved profitability for the first time earlier this year and will include some of their own cash flows to the funds in the expansion. The convoy of payments, business CurrencyFair is acquiring worked with 2016.

“She has a very strong corridor payments to China. He has clients in the U.S. and in Canada, so CurrencyFair will effectively have access to the American market in terms of payment and acquisition of customers via partners and not through our own licence,” Mr Byrne. The company’s goal for the SME market and transfers in excess of 1000 euros, but the latter will be lower in the Asian markets.

Michael YAP, head of venture capital in a convoy of Global, said: “the convoy of global glad to have found a great partner in CurrencyFair to expand our payments offering. The partnership involves the consolidation of existing convoy with CurrencyFair payments and direct investment that support the expansion of the Asian joint ventures”.

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