It seems Currensee is on its way to become a major site in the Forex industry with the raise of a good injection of cash with the purpose to expand abroad.
There is a nice debate out there weather Currensee can succeed or not for hundreds of thousands. Some think that the value it ads agregating data of many is good enough to get everyone on board. Others argue that common trader is reluctant to share their most intimate information as a trade is. Those argue that as 95% of traders fail, there is not enough base of clients to really create network externalities.
For the time being, I do have too contradictory inputs to really positionate myself. So I’ll just keep an eye on them
$6 Million More for Currensee
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.