Curve exceeds crowdfunding target by 723% in one day

Curve, which stylises itself as an all in one financial super app, has already exceeded its crowdfunding target by 723%, after just one day.

The crowdfunding campaign, which is being held on Crowdcube, launched on 25 May with a target of £1m. At the time of writing, the FinTech has secured £7.2m from a total of 8640 backers.

Curve is raising the funds at a pre-money valuation of £591m, with shares priced at £8.62 apiece. Its valuation has tripled since 2019, the FinTech company claims.

There are still another 28 days left on the crowdfunding campaign.

Funds from the round will be used to support its international expansion and product innovation.

The FinTech claims there was a strong pre-registration campaign, which allowed those who signed up to receive advance details of how to invest. It claims 21,000 individuals have signed up to register interest to invest.

Curve launched the crowdfunding campaign to provide its customer base with an opportunity to share in its future success.

It has been a successful year for Curve, with the company doubling its customer base to over two million, growing its workforce by more than 100 and increasing gross transaction value to £2.6bn.

Curve founder and CEO Shachar Bialick said, “Today’s the day for those who have followed our crowdfunding campaign closely to be able to invest and join in the next stage of our amazing journey. We’re customer obsessed, so it should come as no surprise that this campaign has been all about our customers. We simply wouldn’t be where we are without them, and I can’t wait to welcome a new wave of customers and supporters as shareholders in Curve.”

The company hopes to become the one-stop shop for all financial needs of customers. Its platform currently offers a debit card and tools for payments, remittances, money management and more.

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