UK Based Curve Closes $95 mn Funding Round

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UK-based FinTech company Curve has raised $95 mn in Series C funding led by IDC Ventures, Fuel Venture Capital, and the investment division of Vulcan Capital, launched from the estate of Microsoft co-founder and philanthropist Paul G. Allen.

Founder and Curve CEO Shachar Bialick said in a press release on Tuesday (Jan. 12) that the company strives to “empower as many people as possible to take control of their money,” and this latest round of funding is testament to that mission.

“We are ecstatic that our investors share Curve’s vision” Bialick added, calling the fundraising “an endorsement of Curve’s unique product strategy.”

The new resources bring Curve’s total funding to almost $175 million despite the economic fallout due to COVID-19 restrictions.

“Curve’s revolutionary approach to business is more necessary than ever as we accelerate globally to a digital-first world,” said Bobby Aitkenhead, Managing Partner of IDC Ventures.

IDC started investing in Curve last year and thinks this year, the company can successfully gauge, “reaching more people, with more products in more regions,” Aitkenhead said.

In the last year, Curve extended its contribution in its 31 European markets to include Apple Pay, Samsung Pay and Google Pay. In December: Curve partnered with Plaid to bring open banking to the U.K.

The first office in the U.S. Curve opened last year in Brooklyn, New York, will be the U.S. headquarters. The expansion to the U.S. is being managed by Amanda Orson, vice president and head of North America. She was previously managing partner of media group W2PY and an adviser to Gauss Ventures, according to the release.

“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, said.

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