Form3 completes $60m Series C Extension

By Gloria Methri

Form3, the cloud-native account-to-account platform, has announced a new investor, British Patient Capital. Alongside existing strategic and financial investors, including Visa, Form3 has now raised a total of $60m in C-series extension funding to continue its growth journey.

This funding will enable Form3 to develop new products and services to help support exponential growth in key markets such as the UK, Europe and the US.

Benyam Hagos, Chief Financial Officer, Form3, said, “British Patient Capital’s investment enables Form3 to continue to deliver mission-critical infrastructure technology for the world’s most established banks and financial institutions.”

Today’s funding announcement follows Visa’s recent investment in Form3 and its cloud-native account-to-account platform. Some of the UK’s and Europe’s biggest Tier1 banks and fastest-growing FinTechs trust Form3 to handle their critical payments architecture. Major strategic players, including Visa, support the company’s vision for the future of next-generation payments infrastructure.

Tom Haywood, Managing Director, Direct Investments, British Patient Capital, said, “Form3 has built a leading solution for a challenge that banks worldwide are facing: transitioning to a modern, future-proof payments infrastructure. We are delighted to support them as they take the next steps in their growth journey.”

British Patient Capital Limited is a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large-scale businesses.

Launched in June 2018, British Patient Capital has more than £3 billion of assets under management. It invests in venture and venture growth capital to support innovative UK businesses with high growth potential in accessing the long-term financing they require to scale up.