WorldFirst acquires CurrencyVue to develop trade platform
WorldFirst has acquired the Australian CurrencyVue firm to build on its global trade platform.
Established in 2015, CurrencyVue delivers solutions for foreign exchange risk management, developing a platform that integrates with ERP and accounting systems to provide a real-time view of international payments and currency exposures.
WorldFirst will integrate the CurrencyVue platform into its own platforms for business customers.
The new capabilities will enable SME and online seller clients to integrate their international transactions and exposures with platforms such as Xero, Netsuite and Quickbooks. The platform also enables businesses to automate payments of foreign currency invoices.
As part of the deal, Matt Tyrell, CEO of CurrencyVue, will join WorldFirst in London as head of accounting and ERP integrations; and Matt Done, chief technology officer, joins as head of development: accounting integrations, based in Sydney.
The company plans additional integrations to accounting platforms across Asia-Pacific, specifically China, to support WorldFirst’s growth in the region.
Financial details about the acquisition were not disclosed.