Form3, a payment technology developer, has closed its Series C round on $160m, which will aid its geographical growth.
The investment was led by the Growth Equity business within Goldman Sachs Asset Management.
Additional contributions came from unnamed existing backers. Its current shareholders include Lloyds Banking Group, Nationwide Building Society, Barclays, Mastercard, 83North and Draper Esprit.
Following the close of the round, the FinTech company hopes to increase its market presence in the US, as well as other countries.
Form3 is a cloud-native payment processing platform, which also offers clearing and settlement services.
Form3 CEO Michael Mueller said, “More and more financial institutions (FI’s) are placing mission critical processes onto a platform. Cloud-native technology is now proven at an industrial scale and confidence is high and growing.
“This announcement marks the beginning of a global roll out for Form3, and the funding required to tackle the next big challenges in payments; how should payments become smart – uniquely possible with our cloud native technology and an exciting new phase to come.”
With the close of the round, the FinTech company has raised a total of $220m in equity. The company previously raised $33m in a funding round last year.
Copyright © 2021 FinTech Global
