Curve raises $55m in Series B round
Banking platform, Curve, has seen its value rise to a quarter of a billion dollars with a $55 million Series B funding round, reports Jane Connolly.
The round was led by returning fintech investor Gauss Ventures, with participation from Creditease, Cathay Innovation, IDC Ventures, Outward VC and early stage investors such as: Santander InnoVentures, Breega, Seedcamp and Speedinvest.
Curve consolidates multiple cards and accounts into one smart card and app. Since launching out of beta in February 2018, Curve is now available in 31 European countries and is on track to attract one million customers by the end of the year.
The valuation places Curve in the top five UK consumer fintechs alongside Transferwise, Monzo, Revolut and Starling.
With plans to launch into France, Germany, Italy, Poland, Portugal and Spain later this year, and into the US in 2020, Curve will use the funds to expand its product offering.
“While the challenger and traditional banks are busy fighting to win or retain new customers, Curve is building an over-the-top banking platform that provides customers with a better banking experience with no need to change their bank,” says Curve CEO and founder, Shachar Bialick.
“Curve is playing a completely different ball game, it is not a challenger bank which means that we can focus on creating a radically better customer experience, without asking customers to trust their salaries with us, or the significant overhead of becoming a regulated bank. Receiving this level of investment from such prominent investors is a fantastic endorsement of the value and experience Curve brings to its customers.”
The fintech employs more than 150 people across two UK offices.