Xange Private Equity, a venture fund backed by France-based post office La Poste and other corporations, has invested in UK-based currency conversion and international payments service the Currency Cloud, in a £1.2m ($1.9m) deal.

The Currency Cloud has raised £4.5m this year. Xange Private Equity, which is investing via its XAnge Capital 2 fund, is joining venture firms Atlas Venture, Notion Capital and Anthemis backing the company. Currency Cloud was established in 2011.

Hervé Schricke, chief executive at Xange Private…

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