Curve to automate expenses with Xero partnership


London-based Curve is looking to simplify the process of expenses by partnering with Xero.

The start-up said it will join with Xero, a New Zealand enterprise for cloud-based accounting software development, to help businesses save money by automating expenses.

Small businesses, freelancers and contractors use Curve to facilitate online payments by bringing together all of the user’s bank cards into one single contactless Mastercard.

The new partnership will enable the Curve app to sync with Xero cloud to exclude the need to enter each expense manually every time a user performs a transaction.

Arthur Leung, product lead at Curve, said:“Everyone hates doing their expenses. It’s a tedious, manual job that takes up too much time. But it doesn’t have to be that way. Now,Curve will do the job for you, regardless of the bank you use.

“Instead of wasting one day a month on business expenses admin, just connect your cards to a Xero account through the Curve app, and Curve will do your expenses for you. It’s effortless.”

Earlier this year, Curve collected £10m for its Series A funding, with the funding came from Santander InnoVentures, Oxford Capital, Investec, Connect Ventures, Speedinvest, Breega Capital and Samos Investments.

The start-up isn’t alone in the London mobile payments scene with a number of companies raising funds this year. In July, Yoyo Wallet closed a £12m Series B funding round, which was led by Metro Group’s venture capital arm Horeca.

London-based Upstream also recently closed a $26.7m financing round, with the European Investment Bank leading the investment.

Global PayTech investment declined in 2017 as investors turned to other opportunities according to data from FinTech Global. In terms of deal activity, Q2 2017’s 30 deal count was some way off the 46-deal haul seen in the same quarter of last year, the 16-deal reduction represents a 34.8% fall in deal activity YoY.

Copyright © 2017 FinTech Global

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