Curve raises $95 million as it plans US launch
Curve , the London-based fintech that combines multiple cards and accounts into one smart card and even smarter app, announced it has secured $95 million in a Series C round led by IDC Ventures, Fuel Venture Capital and Vulcan Capital, with participation from OneMain Financial, and Novum Capital. Since its inception in 2015, the company has raised ~$175 million.
Curve is an over-the-top banking platform with 2 million customers that is currently live in 31 markets across the UK and European Economic Area (EEA). The company will deploy the investment to expand internationally, including to the US, and to deepen its European reach. Curve will also use the funding to drive ongoing product innovation, notably of Curve Credit in early 2021.
“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.” – Shachar Bialick, Founder and CEO of Curve.
“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.” – Bobby Aitkenhead, Managing Partner of IDC Ventures.
“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.” – Jeff Ransdell, Founding Partner, Managing Director, Fuel Venture Capital.
“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.” – Rick Roberts, from Vulcan Capital.