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September 25, 2023

Curve Raises £58M in Series C Transforming Finance with a 'Netflix of Banking'

London's fintech landscape, Curve, the innovative financial app has secured a substantial extension of £58 million

London-based fintech pioneer, Curve, continues its trailblazing journey in the world of digital finance with a remarkable extension of its Series C funding round, raising an impressive £58 million. This recent influx of capital propels Curve's total investment in the Series C round to a staggering £133 million. The infusion of funds comes on the heels of Curve's recent app launch, which introduced an innovative marketplace of financial applets.

The extended funding round attracted prominent backers, including Britannia, IDC Ventures, Cercano Management (the venture arm of Microsoft co-founder Paul G. Allen's estate), Cohen Circle, and Outward VC, among other existing stakeholders. To date, Curve has successfully secured a substantial £208 million in equity investment.

The fresh capital injection is poised to bolster Curve's commitment to delivering an exceptional customer experience, enhancing its Flex offerings, and introducing exciting new partnerships into the market.

Shachar Bialick, the visionary Founder and CEO of Curve, expressed his satisfaction with the Series C extension, saying, "We are extremely pleased with the interest we received in our Series C extension round and the support we received from our existing shareholders. It's a testament to the execution of our team, the strength of our product, and our business as a whole."

Bialick emphasized the profound responsibility that accompanies this funding round to continue building an outstanding product and business. He underlined Curve's unique, user-friendly, and innovative product as an attraction for investors, partners, and customers alike, assuring that the additional capital will enable more individuals to experience financial independence.

Bobby Aitkenhead, Co-Founder, and Managing Director at IDC Ventures, commended Curve's unique technology and Layer 3 (OTT) approach, which intercepts transactions and enhances the customer experience. He highlighted Curve's ability to offer benefits such as Double Dip Rewards and eliminate hidden fees seamlessly, without necessitating any card changes by customers. Aitkenhead also praised Curve's holistic view of customer finances, robust data capabilities, personalized experiences, and sound business model.

Daniel Cohen, Co-Founder of Cohen Circle, expressed enthusiasm about Curve's potential to become a payments super app, fundamentally transforming how consumers manage their cards and credit within a comprehensive payment methodology.

Founded by Shachar Bialick in 2015, Curve is on a mission to redefine the consumer's financial landscape, positioning itself as the ultimate one-stop-shop for financial needs. Unlike conventional banking services, Curve does not replace existing bank accounts but rather operates as a cloud-based platform layered atop the existing banking and payments infrastructure.

Curve acts as a single point of access to a diverse array of financial products and services, seamlessly consolidating all financial resources onto a single smart card and a highly intelligent app. The platform empowers customers with full control over their finances, eliminating costly hidden currency conversion fees that banks often impose.

One of Curve's standout features is "Curve Flex," a compelling alternative to Buy Now Pay Later (BNPL) services, approved by the FCA. Curve Flex empowers customers to defer payments for nearly any purchase made at any merchant, using any card, for up to a year.

As part of its ongoing expansion, Curve operates in 31 markets across the UK and Europe and has established strategic partnerships with industry giants such as Samsung, Mastercard, Huawei, Swatch, and other esteemed brands.

Josefina Dipaolo
Josefina Dipaolo
Content Writer at TechNews180
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