Curve Smashes Its Own 2019 Crowdfund Record, With £6m Raised in Just Under 3 Hours
The much-anticipated crowdfunding round from Curve, the fast-growing financial super app, has beaten its own 2019 crowdfund record, raising £6m in just 2 hours 49 minutes. In its September 2019 campaign, Curve raised £6m in 4 hours 42 minutes.
At the £6m mark, 6,827 customers and retail investors had participated in the round since it went live at 0900 BST today.
Curve’s crowdfunding round remains open. Prospective investors, including new and existing customers, can find the full details of the crowdfund live on Crowdcube’s website [http://www.crowdcube.com/curve].
Curve launched the campaign to give its growing customer base an opportunity to share in its future success following the rapid growth it has seen recently. Since its record-breaking crowdfund in September 2019, Curve’s valuation has tripled to £591.7m. Between February 2020 and March 2021 Curve:
- More than doubled its customer base to over 2 million
- Expanded its workforce by over 100
- Saw its gross transaction value grow to £2.6 billion
The proceeds of the crowdfunding round and its successful Series C round will be used to fuel the company’s international expansion and product innovation.
Curve will provide a full overview of its crowdfunding round when it closes.
Curve is an all in one financial super app. Its mission is to be a one-stop shop for all the financial needs of a consumer; a single point of access to a wide range of financial products and services, bundling together all your money into one smart card and an even smarter app. Unlike other services available in the market today, Curve allows customers to connect and supercharge their legacy banks to the 21st century, without leaving their bank or signing up to a new bank. Curve is live in 31 markets across the UK and European Economic Area (EEA).
Curve provides a host of benefits to its customers:
- Combines a customer’s Mastercard and Visa debit and credit cards in one card.
- Enables customers’ cards to fit into Apple Pay, Google Pay, Samsung Pay, FitBit Pay and many more, even if their banks do not support this integration.
- Curve provides 1% cash back on selected retailers for the first 30 days, or for an unlimited time on Curve’s paid subscriptions.
- With Curve’s patented Go-Back-In-Time® feature, Curve customers may be able to swap their spend to a different account, up to 90 days after the purchase was made.
- Increased security and privacy - Curve simplifies customers’ lives by providing them with only one pin to remember; keeping other sensitive card numbers safe by using Curve when spending online; providing real time spending notifications and the ability to lock the Curve card directly from the app.
- Peace of mind - Curve’s premium Metal offering provides mobile phone insurance and travel insurance to ensure customers can focus on living their lives, rather than worrying about losing their phone or bags when they travel.
Curve supports Mastercardand 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).
About the crowdfund
This announcement is not an offer of securities for sale or subscription in any jurisdiction, and should not be relied upon in connection with any offer. Any investment decision should be based solely on the basis of the terms of the investment, which will be made available to eligible potential investors in due course.
Not for release, publication or distribution, directly or indirectly, in whole or in part, in or into the USA, Canada, and Japan or any other state or jurisdiction in which such release, publication or distribution would be unlawful.
Investing involves risk and should be done only as part of a diversified portfolio. Investing equity in start-ups and early stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution. Crowdcube is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. Approved as a financial promotion by Crowdcube Capital Limited which is authorised and regulated by the Financial Conduct Authority (No. 650205).
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