Curve, a UK based Fintech crowdfunding on Crowdcube, is killing it, according to a note from the company. Curve now claims to be the fastest startup to top £4 million ever crowdfunding on Crowdcube topping the amount in “just minutes” after opening up the offer.
The offering is currently in private mode and opened to “select investors.” According to the campaign page, Curve has now raised £5.5 million for 2.67% ownership at a pre-money valuation of £201,671,210. Curve initially set a target of £1 million but the company has easily shifted gears moving into overfunding mode. To date, 8689 investors have participated in the securities offering.
Curve also shared that it has broken records for the number of investors investing in a campaign through the Crowdcube platform, beating the previous record-holder Chip who had approximately 6,500 investors.
As was previously reported, Curve has raised over $70 million from investors to date. Crowdcube investors are being given the opportunity to invest at the same Series B valuation as investors such as Gauss Ventures, Creditease, Cathay Innovation, IDC Ventures, Santander InnoVentures, Breega, Seedcamp, Speedinvest and Outward VC.
Shachar Bialick, founder and CEO of Curve, commented on the success of the offering:
“Curve customers are the beating heart of Curve and the unprecedented success of our first-ever funding round demonstrates their faith in the business and shows the world that people are ready for a revolution in finance. We have been blown away by this record breaking investment from the Curve community and we are delighted to welcome them on board our mission to move banking to the cloud and change the world of finance forever.”
Luke Lang, co-founder of Crowdcube, explained that Curve has brilliantly inspired its community with its vision to create a better financial world, its innovative product, and ambitious team.
“The impressive level of investment underlines the strong bond Curve has with its community, who clearly believe in the company and I’m sure will help supercharge its next phase of growth.”
Curve is a banking platform that enables users to connect all accounts into a single card and app. Since platform launch in early 2018, Curve reports over 500,000 users. Curve expects to top one million users by the end of the year.
Curve recently announced a series of new products. In June, Curve launched Curve Cash which gives Curve customers unlimited 1% instant cashback at leading retailers such as Amazon, Uber, Spotify, Netflix, Tesco, Sainsbury’s and over 100 more retailers. Earlier this year, Curve launched enhanced Curve Customer Protection, protecting customers for purchases made up to £100,000, and Curve subscriptions with Travel Insurance, Gadget Insurance and access to over 1000 airport lounges worldwide.
Bialick earlier explained that his Fintech has a radical vision for finance. “We’re working to revolutionise the world of finance and move banking to the cloud. We’re building an Over-The-Top Banking Platform that simplifies your life and saves you money. No small feat,” Bialick stated.
By allowing smaller investors to participate in a funding round on the same terms of big-money, Curve should enlist a good number of brand ambassadors seeking to promote the app as both sides will be committed to the Fintech’s success.
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