FinTech scaleup Curve closes $55m Series B round

The banking platform’s new funding round has pushed Curve’s valuation past the $250m mark.

The round was led by Gauss Ventures. This investor has a track record of funding British FinTech startups. It previously invested in Simudyne, the financial simulation startup, in May 2019. Other investors included Creditease, IDC Ventures and further participation from Outward VC (previously Investec’s INVC fund), which has historically backed other FinTech startups Bud and Monese.

Several of Curve’s early stage investors also contributed to the round. These included Santander InnoVentures, Breega, Seedcamp and Speedinvest.

London-based Curve’s platform consolidates multiple cards and accounts into one smart card and app. The startup also offers a host of benefits to its customers. For instance, it makes cards fee-free when spending abroad as well as instant notifications and categorisation of spend.

Several of Curve’s early stage investors such as Santander InnoVentures, Breega, Seedcamp and Speedinvest also participated in the raise.

Commenting on the closing of the round, 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.”

Copyright © 2019 FinTech Global

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