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Tuesday, October 20, 2009
Currensee lands $6M round for online foreign exchange trading
By Galen Moore
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Online foreign-exchange-trading social network Currensee Inc. has closed a Series A round it began raising in 2008.
North Bridge Venture Partners is the sole backer in the $6 million round, according to a press release posted today. Currensee’s online application allows Forex traders to track trade data and share it anonymously and learn from each others’ moves.
Boston-based Currensee launched in 2008 as Tradual Inc., with a $2.4 million tranche from North Bridge. The round was originally capped at $4 million, according to regulatory filings at the time.
Currensee was founded by Dave Lemont, who formerly headed up Burlington-based AppIQ Inc.; Avi Leventhal, a former foreign exchange trader; and Asaf Yigal, former director of professional services for Onaro Inc. Onaro was acquired by NetApp Inc. in January 2008.
North Bridge partner James Moran was quoted in the company’s press release.
The company is one of three early-stage startups in the Boston area providing information to investors and traders. Updown Corp. of Cambridge and Brighton House Associates LLC of Marlborough both launched in March 2007. Updown provides fantasy stock trading, and Brighton House offers a directory of investors for fund managers.
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