Curve, a banking platform that consolidates multiple cards and accounts into one smart card and even smarter app, closed its equity crowdfunding campaign on Crowdcube with nearly £10m in funding from 11,795 investors. Curve also claimed it was the fastest ever company on Crowdcube to raise £6 million, which it did in just 2 hours 49 minutes after it went live on May 25th.
“More than 4,000 retail investors took part in the first 60 minutes of the crowdfund, smashing Curve’s initial target of £1m within just 10 minutes of the round opening. Over £3.1m was raised within the first 30 minutes of the campaign, with £4m raised after just 56 minutes.”
Speaking about the investment round’s success, Shachar Bialick, Founder and CEO of Curve, stated:
“Ever since our last crowdfund in 2019, our customers have been requesting another opportunity to take a share in Curve. So we launched this campaign to give the public a chance to join us as we embark on the next stage of our exciting journey, when we reveal Curve Credit to the world and launch in the US. We’ve been blown away by the level of interest we’ve seen over the past three days, and I’m so excited to welcome nearly 12,000 investors on board.”
Luke Lang, Co-Founder and CMO of Crowdcube, added:
“Hats off to Curve for another landmark raise with Crowdcube, they continue to impress investors with their unique proposition. It’s a really exciting time for their shareholders, both new and existing, to be part of their ongoing success and their mission to shape the future of finance.”
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.”
Curve recently 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. The Series C round launched just a little over a year after the company raised $55 million through its Series B round, which was led by Gauss Ventures.
Funds from the crowdfunding round and its Series C round will be used to fuel Curve’s international expansion and product innovation.
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