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March 4, 2019

WorldFirst buys CurrencyVue to strengthen B2B proposition

UK money transfer firm WorldFirst has snapped up CurrencyVue.

Financial terms of the transaction were not divulged.

CurrencyVue’s platform integrates with global ERP and accounting systems to offer a view of users’ international payment exposures.

Furthermore, WorldFirst will integrate the CurrencyVue platform into its own for business clients.

Through the deal, WorldFirst SME and online seller clients can integrate their international transactions with Xero, Netsuite and Quickbooks.

CurrencyVue will also enable WorldFirst clients to automate payments of foreign currency invoices.

CurrencyVue CEO Matt Tyrell and chief technology officer Matt Done will both move to WorldFirst.

Tyrell will now become head of accounting and ERP integrations in London.

Done will assume the role of head of development for accounting integrations in Sydney.

WorldFirst chief enterprise officer Nick Aston said: “In bringing together the World Account with CurrencyVue’s unique platform not only are we able to deliver something truly differentiated to the market, but with Matt and Matt also joining the business we have secured access to some of the industry’s leading talent.

“This strategic acquisition is another milestone on our journey to create the world’s best platform for international trade and provide our customers with a competitive edge in a today’s connected global economy.”

The latest deal comes close on the heels of WorldFirst’s takeover by Ant Financial, which operates mobile payment platform Alipay.

Shortly before that, WorldFirst retreated from the US.

According to media reports, the closure was an attempt to prevent regulatory objections from thwarting the Ant Financial deal.

 

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