Curve, the financial super app that connects all your existing credit and debit cards to one single card and app, announced that it has raised an additional £58 million extension of its Series C round, bringing its Series C funding total to over £133 million.
The extension investment round saw participation “from Britannia, IDC Ventures, Cercano Management (the venture arm of Microsoft co-founder and philanthropist Paul G. Allen’s estate), Cohen Circle, Outward VC as well many other existing shareholders.”
The new funds will be used “to improve the overall customer experience (Curve just recently rolled out its new app, which includes a marketplace of financial applets), expand its Flex offerings, and bring exciting new partnerships to the market.”
Shachar Bialick, founder and CEO of Curve, said:
“This last raise, like any raise, brings with it renewed responsibility to our shareholders and our customers; To build a good product and an exciting business, by executing well. Curve’s unique, user-friendly and innovative product is something that investors, partners and customers alike are drawn to naturally, and with this additional cash, we look forward to bringing more people closer to financial independence.”
Curve has experienced impressive growth in 2023. Earlier this year, Curve successfully transformed its business model “which allowed it to highly improve its gross margin and, in turn, enter a phase of scaling the business in a sustainable way towards the path to profitability.”
Curve, which launched to the public in 2018 and has amassed more than 4.5 million customers globally, “gives customers more control over their money by connecting their financial world into a simple yet powerful interface, offering them more convenience, control and savings over their finances.”
With Curve, customers have full freedom over their money, “eliminating expensive hidden currency conversion fees that banks would otherwise charge them.”
It also provides a complete financial picture, “enabling better budgeting and maximizing rewards without a second thought.”
To date, Curve has raised £208 million “in equity investment and has reached millions of customers around the world with its unique product and innovative partnerships with Samsung, Mastercard, Huawei, Swatch and many other leading brands.”
