Curve secures $95 mn in Series C funding; to accelerate US expansion

By Megha Bhattacharya

London-based FinTech Curve, today, has raised $95 million as a part of its Series C investment round. The funding round was led by IDC Ventures, Fuel Venture Capital and Vulcan Capital (the investment arm of the estate of Microsoft co-founder and philanthropist Paul G. Allen), with participation from OneMain Financial, the US personal finance company, and Novum Capital.

Shachar Bialick, Founder and CEO of Curve, said, “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.”

The FinTech aims to leverage the funds for accelerating its international expansion including to the US as well as strengthen its position in Europe. It will also utilise the fresh funding for boosting product innovation for Curve Credit in early 2021. The recent fundraiser brings the total investment to almost $175 million.

Bobby Aitkenhead, Managing Partner of IDC Ventures, said, “Curve’s pioneering approach to finance is more necessary than ever as we accelerate globally to a digital-first world. We are proud to support Curve as they bring their much-needed seamless banking experience to the United States in 2021. Ever since we first invested in Curve in 2019, Shachar Bialick and his team have inspired us with their energy and vision of an all-in-one banking platform. IDC Ventures looks forward to scaling this journey to greater heights in 2021, reaching more people, with more products in more regions.”

Recently, FinTech Plaid announced that it has teamed up with Curve in a bid to offer UK customers with a comprehensive knowledge of their finances, spending and ways to improve their overall financial wellbeing. Plaid’s technology is expected to enable the FinTech’s customers to connect their payment accounts to UK-based financial institutions. The UK FinTech will also provide real-time account balances for every linked credit and debit card, which will automatically be refreshed upon signing into the app.