Curve, a leading innovator in the digital wallet space, today announced a significant boost in its funding with a strategic investment from Samsung Next.
This infusion elevates Curve’s total capital raised to over $250m, marking a significant milestone in its journey to reshape financial transactions.
The investment aims to further refine Curve’s distinctive payment solutions as digital wallets continue to capture a growing share of e-commerce transactions. With projections indicating that digital wallets could account for half of all UK e-commerce spending by 2027, estimated at £203.5bn, the competition is heating up. Curve sets itself apart by allowing users to consolidate multiple cards into one smart card and app, providing a slew of financial features designed for maximum flexibility and convenience.
What sets Curve apart is its unique approach to financial management. Users can switch transactions between cards post-purchase, avoid foreign exchange fees, enjoy up to 20% cash back on various purchases, and access cutting-edge financial wearables. Curve leverages advanced technology to offer data-driven insights, helping consumers make tailored financial decisions.
The fresh funds will be utilized to enhance Curve’s product offerings and expand its technological capabilities.
Carlos Castellanos, investor at Samsung Next, said, “Consumers often juggle multiple debit and credit cards, leading to a fragmented and cumbersome financial experience. We invested in Curve because of its innovative approach to consolidating multiple cards and accounts into a single digital wallet, offering seamless interoperability and enhanced user experience without requiring consumers to switch banks or change their behavior.”
Shachar Bialik, CEO and founder of Curve, expressed his enthusiasm for the partnership, stating, “We are thrilled to have Samsung Next’s financial backing. For four years, Samsung Pay+ powered by Curve in the U.K. has combined all your cards from any bank into one digital card for easy shopping. This latest investment will allow us to continue to deliver the best mobile wallet for our customers. At Curve, we aim to offer consumers a superior payment experience that provides true value and freedom, far beyond what traditional digital wallets have been able to offer.”
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