Form3, the cloud-native payment technology provider, announced that it has secured a € 23 million venture debt facility “to continue its rapid global expansion and follows its $160 million Series C funding led by Goldman Sachs last year.”
The venture debt funding “provided by Atempo Growth, – which counts among its LPs the European Investment Bank, Santander, and the British Business Bank – will enable Form3 to explore acquisitions, launch into new markets and support new product growth.”
Michael Mueller, Form3’s CEO, commented:
“The current environment is presenting us with new opportunities, both in terms of new markets and potential acquisitions. The Atempo facility will enable us to accelerate our growth and continue to offer market-leading cloud payments solutions to the world’s largest banks.”
Form3’s API-based cloud technology solutions are “used by financial institutions such as Goldman Sachs, Lloyds Bank and Nationwide Building Society to deliver mission-critical payments.”
Luca Colciago, Atempo Growth’s Co-founder and Investor, said:
“We’re delighted to be supporting such a fast-growing and successful company such as Form3. This investment will further support Form3’s journey to provide best-in-class solutions for the world’s biggest financial institutions.”
Form3 design, build and “run the technology that powers the future of payments.”
Founded In 2016, Form3 “set out to revolutionise the world of payment processing and disrupt the traditional payment infrastructure model, with an always on, cloud-native, Payments-as-a-Service platform.”
Today, Form3 claims it is “trusted by some of UK and Europe’s biggest Tier1 banks and fastest-growing fintechs to handle their critical payments architecture.”
As noted in the update, Atempo Growth was “founded in 2021 and launched its first fund in January 2022.”
The founding team “has significant experience in providing capital to over 100 high-growth technology companies across Europe. ”
The team has “worked closely together for several years and has experience spanning the last 20 years in the venture debt space.” Atempo Growth is “headquartered in London with a pan-European presence and approach.”