Currensea, a UK-based fintech that specializes in creating travel debit cards, is set to close its equity crowdfunding campaign on Seedrs with more than £865,000 secured. The company, which launched the campaign last month, sought to raise a minimum of £800,000. It is offering 7.40% in equity at a £10,003,686 pre-money valuation.
Founded in 2018, Currensea describes itself as a new way to spend and save money while abroad. The company’s debit card works as an extension of the customer’s existing bank account and saves up to 80% on charges, which could be up to a £200 annual saving for a UK family.
“Currensea is one of the UK’s most exciting new fintech startups. It has developed a new payments technology which will challenge incumbents and benefit consumers enormously. Currensea has an incredible team of executives, investors, advisors, and partners all working together to bring the concept to market in 2019.”
Currensea noted that is has worked with the UK regulator and Mastercard to build and launch a market-changing product from scratch. The company’s services have now been successfully used in almost 30 countries across the globe. Funds from the Seedrs campaign will be used to support building Curensea’s product and infrastructure, as well as closed beta testing. The campaign is set to close on Monday (December 9th).
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