$6 Million More for Currensee

Wade Roush2/23/10

Boston-based Currensee, a social network for currency traders, announced today that it has closed an $8 million Series B financing round led by existing investor North Bridge Venture Partners. Egan Managed Capital joined as a new investor, and Egan partner Travis Connors has joined Currensee’s board. Currensee has actually raised $6 million in new funding, but the company is reporting the round to the Securities and Exchange Commission as an $8 million round because $2 million from its $6 million Series A round in October 2009 was converted to Series B terms as part of the deal, according to CEO Dave Lemont. (The company has raised $12 million altogether.) The startup, which Xconomy profiled in April 2009, says it will use the funds in part to accelerate its expansion in Europe and Asia.

Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can subscribe to his Google Group or e-mail him at wroush@xconomy.com. Follow @