Paytech Form3 lands €23m venture debt facility from Atempo Growth
Cloud-native paytech Form3 has secured a €23 million venture debt facility from Atempo Growth to support the paytech’s ongoing growth trajectory.
Form3’s API-based cloud technology solutions are used by financial institutions such as Goldman Sachs, Lloyds Bank and Nationwide Building Society to securely run and scale their “mission-critical” payments infrastructure through a fully managed service.
Form3 CEO Michael Mueller says: “The current environment is presenting us with new opportunities, both in terms of new markets and potential acquisitions.
“The Atempo facility will enable us to accelerate our growth and continue to offer market-leading cloud payments solutions to the world’s largest banks.”
In September, the London-based paytech raised $160 million in a Series C funding round led by Goldman Sachs Asset Management with participation from existing investors Lloyds Banking Group, Nationwide Building Society, Barclays and Mastercard, among others.
Atempo Growth, which was founded in 2021 and launched its first fund in January 2022, is supported by firms such as the European Investment Bank, Santander and the British Business Bank.