Curve Closes $95m in Equity as it Plans US Launch
Curve, the London-based fintech that combines multiple cards and accounts into one smart card and even smarter app, today announces it has secured $95 million from a leading group of international investors as part of a successful Series C round.
Curve will deploy the investment to expand internationally, including to the US, and to deepen its European reach. Curve will also use the fresh funding to drive ongoing product innovation, notably of Curve Credit in early 2021. The fundraise will allow Curve to execute an ambitious strategy to become the leading financial superapp, bringing all your finances into one place.
The funding round was led by IDC Ventures, Fuel Venture Capital and Vulcan Capital (the investment arm of the estate of Microsoft co-founder and philanthropist Paul G. Allen) , with participation from OneMain Financial (NYSE: OMF), the US personal finance company, and Novum Capital. IDC Ventures has funded some of the world’s brightest tech scale-ups from across the globe, such as Tradeshift, RecargaPay, Boatsetter and CookUnity. Counting IDC Ventures, Curve also attracted many of its investors for a second time.
The fundraise brings the total investment in Curve to almost $175M and makes the business one of only a select group of European fintechs to have raised sizable funds in a climate of widespread economic disruption, driven by Covid-19 restrictions.
Shachar Bialick, Founder and CEO of Curve, said: “We are ecstatic that our investors share Curve’s vision to empower as many people as possible to take control of their money and move banking to the cloud. This fundraise stands out as an endorsement of Curve’s unique product strategy, the excitement surrounding the debut of Curve Credit, and the upcoming launch of Curve in the US. I want to thank our partners and shareholders, and the entire team at Curve for their tireless work to thrive throughout 2020.”
Bobby Aitkenhead, Managing Partner of IDC Ventures, said: “Curve’s pioneering approach to finance is more necessary than ever as we accelerate globally to a digital-first world. We are proud to support Curve as they bring their much-needed seamless banking experience to the United States in 2021. Ever since we first invested in Curve in 2019, Shachar Bialick and his team have inspired us with their energy and vision of an all-in-one banking platform. IDC Ventures looks forward to scaling this journey to greater heights in 2021, reaching more people, with more products in more regions.”
Jeff Ransdell, Founding Partner, Managing Director, Fuel Venture Capital, said: “Curve allows customers to stay with their preferred banks while taking advantage of the latest financial technologies, connecting institutions with innovation and building a true ecosystem play. Their collaborative model has been immensely successful in Europe and we are confident that it will prove equally so in the US, where physical cards are still dominant.”
Rick Roberts, from Vulcan Capital, said: “Curve’s model is redefining the future of banking by bringing diverse financial products and solutions together into one digital wallet, for the benefit of banks and customers alike. Their friction-free offering is coming at the ideal time for American consumers, who are looking for safer payment options and greater financial control in the wake of the pandemic. We are excited to be part of the next phase in Curve’s ambitious journey.”
Curve’s Series C fundraise comes at the end of an impressive 2020 performance, in which Curve reached 2m customers, launched a range of new products and partnerships, and hired a world-class team.
● In the last 12 months: Curve extended its offering to include tech titans Apple Pay, Samsung Pay and Google Pay for its customers in its 31 European markets.
● In December: Curve announced it was joining forces with Plaid to bring open banking to the UK, allowing users to connect and see their bank accounts in one place.
Curve introduced its novel Anti-Embarrassment Mode, a feature ensuring that customers never experience a decline.
● In October: Curve announced the establishment of a subsidiary in Vilnius, Lithuania, and secured an EMI Licence to enable it to serve its European customers following Brexit on 31st December 2020.
● In August: Curve launched an innovative partnership with Samsung and brought the Samsung Pay Card to the market, helping Samsung customers connect their bank cards into Samsung Pay.
● In July: Scott Weller joined as CFO from PayPal. Scott built and led PayPal’s pricing strategy in its Europe, Middle East and Africa markets.
● In June: Curve successfully brought issuance in-house, and migrated to a new acquirer, Checkout.com, in the space of 59.5 hours.
● In April: Curve expanded its ‘Go Back in Time’ feature from 14 to 90 days, to give customers greater flexibility to manage their finances in the face of Covid.
Curve also expanded its proposition to include Loyalty Cards, taking another step towards making your wallet obsolete.
● In February: Curve opened its first US office, in Brooklyn, New York, as a base for its Stateside operations. Curve’s US expansion is led by VP, head of North America, Amanda Orson, previously managing partner of media group W2PY and an adviser to Gauss Ventures.
Curve is an over-the-top banking platform, which allows customers to consolidate multiple cards into one smart card and an even smarter app. The unique Curve card allows customers to supercharge their legacy banks to the 21st century without leaving their bank. Curve is live in 31 markets across the UK and European Economic Area (EEA).
Curve offers a host of benefits to its customers, who get instant notifications and categorisation across their spend; the capacity to earn instant 1% cashback at the likes of Amazon, Uber, Netflix and Tesco; the ability to fit their cards into Google Pay, Apple Pay and Samsung Pay, even if their banks don’t support this, and the patented Time Travel enables customers to swap spend to a different card in the app for up to 90 days after the purchase was made.
Curve supports Mastercard® and Visa networks. The Curve Card and e-money, related to cards issued in the UK, is issued by Curve OS Limited, authorised in the UK by the Financial Conduct Authority to issue electronic money (firm reference number 900926). The Curve Card and e-money, related to cards issued in the EEA, is issued by Curve Europe UAB, authorised in Lithuania by the Bank of Lithuania (electronic money institution license No. 73 issued on 22 of October, 2020).
For more information go to www.curve.com, like our Facebook page and follow us on Twitter @imaginecurve and Instagram @imaginecurve.
For media enquiries
Head of Corporate Communications
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Kyoto Semiconductor Signs Supply and Reseller Agreement With CEL13.4.2021 03:00:00 CEST | Press release
Kyoto Semiconductor Co., Ltd., a leading optical device solution manufacturer with world-class technologies and Japanese quality, has announced that it has entered into an agreement with California Eastern Laboratories (CEL) to be a multinational reseller of Kyoto Semiconductor’s optical device solutions. The partnership extends Kyoto Semiconductor’s sales and support network not only to North America but to countries such as India and Israel while it enhances CEL’s product offering with Kyoto Semiconductor’s high-quality photodiodes for optical communication and sensing equipment “Kyoto Semiconductor is pleased to collaborate with CEL, one of the best suppliers of compound and silicon semiconductors, known for its superior customer support and technological expertise. With this partnership, we extend our customer reach worldwide, ranging from North America to India or Israel”, said Tsuneo Takahashi, CEO at Kyoto Semiconductor. “Our products are critical for the 5G and beyond-5G wirele
Bentley Systems Brings Infrastructure Digital Twins to NVIDIA Omniverse12.4.2021 19:00:00 CEST | Press release
GTC21 – Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced that it is developing applications using the NVIDIA Omniverse platform for photorealistic, real-time visualization and simulation of digital twins of massive-scale industrial and civil infrastructure projects. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005214/en/ Image courtesy of Houston Waterworks Team (a Joint Venture of Jacobs Engineering Group, Inc. and CDM Constructors, Inc.) Bentley Systems has extended the Bentley iTwin platform to integrate with NVIDIA Omniverse to provide a graphics pipeline for AI-enhanced, real-time visualization, and simulation of infrastructure digital twins. This integration allows engineering-grade, millimeter-accurate digital content to be visualized with photorealistic lighting and environmental effects on multiple devices including web browsers, workstations, tabl
QCT Unveils Optimized Accelerated Server to Boost High-Performance Workloads12.4.2021 19:00:00 CEST | Press release
Quanta Cloud Technology (QCT), a global data center solution provider, today announced a new addition to its broad portfolio of NVIDIA-Certified SystemsTM with its QuantaGrid D43N-3U. This server complements QCT’s existing high-performance QuantaGrid and QuantaPlex family of servers, while enabling customers the ability to leverage the latest next-generation NVIDIA Tensor Core GPUs for advanced AI workloads, including those that run on virtualized infrastructure with the NVIDIA AI Enterprise software suite. NVIDIA Tensor Core GPUs on QCT systems are built on the rich ecosystem of AI frameworks from the NVIDIA NGC catalog, CUDA-X libraries, over 2.3 million developers, and over 1,800 GPU-optimized applications to help enterprises solve the most critical challenges in their business. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005024/en/ QuantaGrid_D43N-3U (Photo: Business Wire) “Utilizing NVIDIA accelerated computing
Mavenir Launches 5G Hyperconverged Edge AI Solution for Enterprise & Telco Market Based on NVIDIA Platforms12.4.2021 19:00:00 CEST | Press release
Mavenir, the industry’s only end-to-end cloud-native Network Software Provider and a leader in accelerating software network transformation for communications service providers (CSPs), announced today the launch of an AI-on-5G Hyper Converged Edge solution working in close collaboration with NVIDIA. Mavenir has developed this unique solution, based on NVIDIA’s hardware and software technologies, enabling Enterprises & Telcos to implement AI-on-5G applications for many promising verticals such as Manufacturing, Mining, and Healthcare that cover Industry 4.0 applications, including Industrial Internet of Things (IIoT), Intelligent Video Analytics (IVA) and Extended Reality (XR) and Gaming use cases. The use cases can be around remote and immersive collaboration, precision robotics control, people safety, intrusion detection, smart connected factories, real-time manufacturing component defect detection and proactive maintenance using near real-time analytics of sensor data. 5G enables an
Merck Advances ATR Inhibitor Berzosertib in Small Cell Lung Cancer With New Published Data and Initiation of Phase II Trial With Registrational Intent12.4.2021 17:04:00 CEST | Press release
Merck, a leading science and technology company, today announced key clinical advancements for berzosertib (M6620), an investigational, potent and selective ataxia telangiectasia and Rad3-related (ATR) inhibitor. Berzosertib is the leading asset in the company’s DNA damage response (DDR) inhibitor program and one of the most advanced ATR inhibitors in oncology clinical development industry-wide. Results from a Phase II proof-of-concept study conducted by the US National Cancer Institute (NCI) (NCT02487095)* and published in Cancer Cell showed that berzosertib in combination with the chemotherapy topotecan resulted in an objective response rate (ORR) of 36% among patients with relapsed small cell lung cancer (SCLC), including durable responses among a majority of responding patients with platinum-resistant disease.1 The NCI is also conducting a separate Phase II trial of berzosertib in combination with topotecan versus topotecan monotherapy in SCLC that has relapsed (NCT03896503)* which
Loomis Sayles Welcomes Susan Sieker as Chief Financial Officer12.4.2021 16:15:00 CEST | Press release
Loomis, Sayles & Company, an affiliate of Natixis Investment Managers, announced today that Susan Sieker has joined Loomis Sayles as executive vice president and chief financial officer (CFO). She also joins the Loomis Sayles Board of Directors. Susan reports to Kevin Charleston, chairman and chief executive officer of Loomis Sayles, and will oversee the finance organization. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005613/en/ Susan joins Loomis Sayles from Cambridge Associates, where she was the chief financial officer and oversaw financial planning and analysis, treasury, accounting operations, financial reporting, payroll and taxes. Prior to joining Cambridge Associates in 2012, Susan served in a variety of finance and risk leadership roles at Brinker International, including vice president and treasurer, vice president of global infrastructure, vice president of benefits, vice president of business assurance
Alira Health Strengthens Its Growth Strategy With a $35M Funding, Led by Creadev12.4.2021 15:00:00 CEST | Press release
Alira Health (www.alirahealth.com), a leading international advisory firm dedicated to advancing healthcare and life sciences, announced it has closed a $35M equity financing led by Creadev, an evergreen investment company backed by the Mulliez family. This new partnership will help accelerate the firm’s growth strategy, focused on merging pharmaceutical, medical and digital technologies development with medical care through a patient-centric approach. “I would like to thank our team of investors for joining our mission to enable healthcare transformation. Their investment positions us to change the way life sciences advisory services are delivered,” said Gabriele Brambilla, Chief Executive Officer and Co-Founder of Alira Health. “We are building a powerful continuum of services that spans the product and solutions development life cycle, supported by the recent additions of our patient engagement, real-world evidence and advanced analytics practices. This financing allows us to advanc
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom