Curve, a banking platform that consolidates multiple cards and accounts into one smart card and even smarter app, announced on Monday it secured $95 million as part of its Series C investment round. According to Curve, the round was led by IDC Ventures, Fuel Venture Capital, and Vulcan Capital with participation from OneMain Financial (NYSE:OMF) and Novum Capital.
As previously reported, Curve is on a mission to simplify the way people spend, send, see, and save money.
“We are focused on an ambitious opportunity fuelled by a couple of trends starting to play out in the market, from fragmentation of financial services to new convergence layers for the customer experience. We believe the end-game will be a connected world of money, tailored individually for each customer. We’re building this end game – an Operating System for Money.”
The Series C round launched just a little over a year after Curve raised $55 million through its Series B round, which was led by Gauss Ventures. Curve further noted that the investment round also comes at the end of what it calls an impressive 2020 performance, in which Curve reached two million customers, launched a range of new products and partnerships, and expanded its team. Speaking about the investment, Shachar Bialick, Founder and CEO of Curve, stated:
“We are ecstatic that our investors share Curve’s vision to empower as many people as possible to take control of their money and move banking to the cloud. This fundraise stands out as an endorsement of Curve’s unique product strategy, the excitement surrounding the debut of Curve Credit, and the upcoming launch of Curve in the US. I want to thank our partners and shareholders, and the entire team at Curve for their tireless work to thrive throughout 2020.”
Curve went on to add that it will be using the investment round’s funds to expand internationally, including to the U.S., and deepen its European reach. The fintech will also use the funds to drive ongoing production innovation.