P2P currency exchange app WeSwap bids for £2.3 million crowdfund raise

Currency exchange app WeSwap has launched a £2.3 million crowdfunding round on Seedrs after hitting the 500,000 user landmark.

The raise will support a Series B investment round led by IW Capital, WeSwap's lead investor, which has invested an additional £3.7 million in the travel money start-up, including £1.7 million of equity in this round.

This is WeSwap’s third raise on Seedrs, having previously attracted over £3.5m from 3,868 investors.

Jared Jesner, CEO and Founder of WeSwap comments: “ We are delighted to open up this latest round of funding, supplementing a series of debt, equity and private investment routes that have aided us in achieving some great milestones that we’re really proud of. This latest round will allow us to launch a range of new WeSwap product innovations and expand into Asia.”

The company claims to have processed £250 million in P2P currency swaps since its launch in 2015.