London, United Kingdom-based financial app connecting existing credit and debit cards to one single card and app, Curve raised an additional GBP 58 million in Series C extension. The company announced the investment on September 21, 2023. Britannia, IDC Ventures, Cercano Management (the venture arm of Microsoft co-founder and philanthropist Paul G. Allen’s estate), Cohen Circle, Outward VC, as well as other existing shareholders, provided the investment to the firm.
In addition, the company’s total Series C funding amounts to more than GBP 133 million.
Purpose of financing for Curve
With the latest financing, Curve seeks to improve the overall customer experience. It also intends to expand its Flex offerings. Meanwhile, the company has plans to bring exciting new partnerships to the market. Recently, Curve launched a new app, which includes a marketplace of financial applets.
What the company’s officials have to add
Shachar Bialick, founder and CEO of Curve, said, “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 business as a whole. This last raise, like any raise, brings with it renewed responsibility to our shareholders and our customers: To build a good product and an exciting business by executing well. 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.”
What the investors have to comment
Bobby Aitkenhead, co-founder and Managing Director at IDC Ventures, further said, “Curve isn’t just aggregating funding sources into one credit card, they’re revolutionising how we perceive and access our money. Thanks to their unique technology and Layer 3 (OTT) approach, they have the capability to intercept the transaction and supercharge the customer experience with its Double Dip Rewards or eliminate nasty hidden fees. And they do it seamlessly, without any need for the customer to change the cards they pay with. This, in turn, gives Curve 360 view of customer finance, a wealth of data which allows Curve to offer a superior, personalised experience for customers, coupled with a strong business model, as they’ve proven in the past 12 months. Our conviction in Curve grew substantially upon witnessing the remarkable capabilities and proven history of its founder and the team he built around him.”
In addition, Daniel Cohen, Co-Founder of Cohen Circle, said, “We’re so excited about Curve and its potential to be a payments super app, as well as its ability to change the way consumers treat their cards and credit as part of a holistic payment methodology. It continues to build and provide its users with great value.”
About the company
In 2015, Founders Anna Mostyn-Williams, Shachar Bialick, and Tom Foster-Carter launched the company. So far, Curve has raised GBP 208 million in equity investment. It also caters to millions of customers around the world with its unique product. Meanwhile, the company enjoys innovative partnerships with giants such as Samsung, Mastercard, Huawei, Swatch and many other leading brands.
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