Index Ventures Makes One of Its Largest Investments and Provides the First Institutional Round of $17 Million in Financing for OANDA

Index Expands Its Portfolio With Global Leader in Online Currency Trading

Sep 21, 2005, 01:00 ET from Index Ventures

    LONDON and GENEVA, Sept. 21 /PRNewswire/ -- Index Ventures, a leading
 venture capital firm based in Europe, today announced a solo $17 million
 investment in OANDA, an innovator for global currency trading. OANDA has been
 profitable since it launched FXTrade, the world's first end-to-end,
 fully-automated currency trading platform in 2001.  OANDA offers the lowest
 spreads in the online Forex market and will use its venture capital funding to
 further extend its market position and reach.
     Following the recently announced sale of Skype to eBay, Index is again
 backing an innovative company determined to redefine an  established market
 for services -- the global market for foreign exchange. Both Danny Rimer and
 Bernard Dalle, General Partners at Index Ventures will be members of the
 board, following this deal.
     "We are very excited to invest in OANDA. It has the best technology
 platform we've seen in the space, a very compelling service and an excellent
 team supporting an innovative business model.  We believe that OANDA will do
 for global currency trading what E*TRADE did for stock trading in the 1990's,"
 said Danny Rimer, General Partner at Index Ventures.
     "We are very happy to have Index Ventures as partner as they have a
 successful history of financing disruptive businesses such as Skype, Betfair
 and MySQL and OANDA has been a disruptive force for the financial community
 since it's inception in 2001," said Michael Stumm, president of OANDA. "With
 Index' support, we hope to expand our reach and continue to lead the market
 with innovative online currency trading solutions."
     About OANDA
     OANDA Corporation is a pioneer in Internet-based currency trading and a
 global leader in currency localization and information services. With one of
 the world's largest historical high frequency, filtered currency databases,
 OANDA was the first to offer a broad range of currency exchange rate
 information free of charge to the general public over the  Web in 1995.
     OANDA became an Internet-based business-to-business application provider
 (ASP) in 1997 and currently services over 75,000 ASP clients globally while to
 date, OANDA has closed over 72 million transactions. With FXTrade, OANDA was
 one of the first to bring a fully automated currency trading system to the Web
 in early 2001. The OANDA FXTrade system offers retail and institutional
 clients a cutting-edge platform that provides competitive, real-time access to
 the foreign exchange market. The company is headquartered in New  Yorkwith
 offices in  Torontoand  Zurich. For more information about OANDA and its
 services, please visit
     OANDA is a registered Futures Commission Merchant (FCM) with the Commodity
 Futures Trading Commission (CFTC) and is a member of the National Futures
 Association (NFA).
     About Index Ventures
     Index Ventures is a leading European venture capital firm active in
 technology venture investing since 1996. The firm is dedicated to helping top
 entrepreneurial teams both in the Life Science and Information Technology
 sectors build their companies into market defining global leaders.
     Index Ventures has a dedicated investment team who are consistently
 seeking out companies with products and services that drive the transformation
 of their industries. Index's company building approach, which allows each
 portfolio entrepreneur to leverage the experience, strategic cross-Atlantic
 relationships and resources of the entire partnership, has subsequently
 resulted in a portfolio of some of the most dynamic companies in the
 information technology and life science industry today.
     The firm has offices in Geneva, London and Jersey and focuses its
 investment activity primarily on Europe and Israel. Life science investments
 include Genmab, Hamilton, BioXell, Parallele Biosciences and 7TM.  Information
 technology investments include Betfair, now the world's largest betting
 exchange; Virata, (acquired by Conexant) a world leader in DSL and other
 communication  chipsets; Skype (global P2P telephony service); MySQL (the
 world's most popular  open source database); and KVS (email archiving firm
 recently sold to Veritas).

SOURCE Index Ventures