The Currency Cloud Limited (IFC-39628)

Regions
  • World
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 31, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
THE CURRENCY CLOUD GROUP LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 3, 2019

Disclosed by Bank Sep 20, 2019


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Project Description

IFC is seeking to invest in Currencycloud which operates a global payments platform. IFC’s invests to support the Company’s expansion, in particular in emerging markets.

People Affected By This Project

The most significant, expected Project outcome is an improvement in the quality of cross-border payments (transparency, cost, channels). Beyond the Project, IFC anticipates that the investment will promote competitiveness in the global cross-border payments market through a demonstration and replication channel.

Investment Description
  • International Finance Corporation (IFC)

IFC will invest up to $10 million in equity.

Private Actors
Contact Information

Currency Cloud Limited
Michael Laven
CEO
+44 (0)20 3326 8173
press@currencycloud.com
12 Steward Street London E1 6FQ United Kingdom
www.currencycloud.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/