Financial super-app Curve bags additional £58m in Series C extension
Financial super-app Curve, which bundles all existing debit and credit cards into one single card and app, has secured an additional £58 million in an extension of its Series C funding round.
The round saw participation from Britannia, IDC Ventures, Cercano Management, Cohen Circle, Outward VC, and other existing shareholders, and brings the total Series C funding to over £133 million. To date, Curve has raised £208 million in equity investment.
Commenting on the raise, Shachar Bialick, founder and CEO of Curve, says: “Curve’s unique, user-friendly and innovative product is something that investors, partners and customers alike are drawn to naturally, and with this additional cash, we look forward to bringing more people closer to financial independence.”
With the new funds, Curve plans on improving its overall customer experience, having recently rolled out its new app which includes a financial marketplace. It also plans to expand its lending business, Curve Flex, and forge new partnerships. Additionally, Curve also claims it is “on trajectory” to reach profitability by early 2024.
Launched in 2018 and headquartered in London, UK, Curve combines all of a customer’s existing bank accounts and payment cards into one smart card, accessible through its app. There, users can track their transactions and finances and earn cashback and rewards on purchases. It boasts of having 4.5 million customers globally, and is currently live in 31 markets across the UK and European Economic Area (EEA).