LONDON--(BUSINESS WIRE)--Curve, the Over-The-Top banking platform that consolidates multiple cards and accounts into one smart card and an even smarter app, has secured $55 million from a leading group of investors as part of a successful Series B funding round, valuing the company at a quarter of a billion dollars.
The investment marks the beginning of a new era in banking – an Over-The-Top Banking Platform that provides a better banking experience, and places Curve in the top five UK consumer fintechs next to Transferwise, Monzo, Revolut and Starling.
The round is being led by Gauss Ventures, a fintech investor whose team has a track record of funding some of the brightest UK fintechs, as well as backing high impact technologies that reshape industries, and comes less than two years after Curve secured its Series A investment. The Series B round also welcomes other prominent investors such as Creditease, IDC Ventures and further participation from Outward VC (previously Investec’s INVC fund), which has historically backed other fintech category leaders Monese and Bud.
Several of Curve’s early stage investors such as Santander InnoVentures, Breega, Seedcamp and Speedinvest have also shown their confidence in Curve by participating again.
Shachar Bialick, founder and CEO of Curve said, “While the challenger and traditional banks are busy fighting to win or retain new customers, Curve is building an Over-The-Top Banking Platform that provides customers with a better banking experience with no need to change their bank. Curve is playing a completely different ball game, it is not a challenger bank which means that we can focus on creating a radically better customer experience, without asking customers to trust their salaries with us, or the significant overhead of becoming a regulated bank. Receiving this level of investment from such prominent investors is a fantastic endorsement of the value and experience Curve brings to its customers.”
Curve, which launched out of Beta in February 2018, is growing at a spectacular pace and is on track to welcome its millionth customer by the year end. The Curve team now has over 150 people in its UK offices in London and Bristol.
*According to Dealroom data on Series B fundraises, and Invyo Insights
Curve is an over-the-top banking platform, consolidating all your cards and accounts into one smart card and even smarter app. Curve offers a host of benefits to its customers; it makes all your cards fee-free when spending abroad, you get instant notifications and categorisation of spend, you can earn instant 1% cashback at the likes of Amazon, Uber, Netflix and Sainsbury’s and Time Travel enables customers to swap spend to a different card in the app for up to two weeks after the purchase was made.