OANDA Corporation, known for Internet-based forex trading and as a global player in currency information services, announces today that a consortium of investors has invested $100 million in the company’s Series B round of venture capital funding.
The consortium is led by New Enterprise Associates (NEA) and includes Legg Mason, Cascade Investment LLC, and T. Rowe Price. They join existing investor Index Ventures, which led the company’s $17-million Series A investment in September 2005.
“From the outset one of our most important goals was to democratize the forex market. We will use our new capital to continue that pursuit as we develop new products and services in this emerging marketplace.”, says Richard Olsen, who co-founded OANDA with Michael Stumm in 1996.