UK-based cross-border payments platform Currencycloud has partnered with all-in-one accounts payable platform Nook to upgrade the latter’s capabilities. Through this partnership, Nook gained access to Currencycloud’s API technology and upgraded it with the ability to pay invoices in more than 35 different currencies and to more than one hundred countries.

The goal of the collaboration is to provide Nook’s customers with a service that removes multiple transactions and simplifies the process of making payments. Nook was founded in 2021 and currently has offices in both London and Lisbon. The startup is backed by a series of venture capital and angel investors, and it has raised over USD 2 million in funding to date and is on a mission to simplify how businesses trade together.

In the company press release, Nook representatives talked about this partnership with Currencycloud and revealed that this new integration could improve their value proposition as an end-to-end accounts payable solution. They also revealed their expectations to witness a significant uptake in new customers as well as an increase in the volume of payments being made through Nook thanks to this collaboration. Officials from Currencycloud reinforced their commitment to help startups as they venture into international payments.

They also mentioned Nook’s all-in-one solution to streamline accounts payable for SMEs and offered it as a good example of how new companies can thrive in the payments ecosystem through innovation. Currencycloud will watch Nook’s developments with interest, particularly when it comes to the company’s efforts to expand its customer base. Other developments from Currencycloud Currencycloud was founded in 2012 and specialises in giving businesses the capability to move money across borders and transact globally in multiple currencies.

The company’s technology makes it easier for clients to adopt digital wallets and embed finance into the core of their business, no matter what industry they operate in. In June 2023, Currencycloud partnered with South Korea-based money transfer operator E9pay to launch the new E9pay Collection Service. The E9pay Collection Service was designed to enable merchants and traders, as well as SMEs, ecommerce players, and exporters that are based in South Korea to send and collect funds efficiently and securely with customers around the world, starting with the US.

In January 2023, Currencycloud collaborated with capital platform Vauban in order to make the latter’s VS platform more accessible and secure for investors around the globe. By integrating Currencycloud’s APIs into its platform, Vauban gained the ability to deliver SPVs and funds in a faster way, minimising the time of the processes from weeks to hours. .