Curve, the London-based fintech that combines multiple cards and accounts into one smart card and an app, has secured a Series C finding round of $95 million.
The financing 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. Several previous investors also participated.
The fundraise brings the total investment in Curve to almost $175 million. Curve says it plans to use the funds to expand internationally, including to the US, and to deepen its European reach. It will also be pushing its Curve Credit product.
The startup is now claiming 2 million customers and now covers Apple Pay, Samsung Pay and Google Pay in 31 European markets. In December, Curve created a JV with Plaid to bring open banking to the UK, allowing users to connect and see their bank accounts in one place. It also now has a subsidiary in Vilnius, Lithuania, in order to serve its EU-based following Brexit, and partnered with Samsung for its Pay Card.
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.”
Rick Roberts, from Vulcan Capital, said: “Curve’s model is redefining the future of banking by bringing diverse financial products and solutions together into one digital wallet, for the benefit of banks and customers alike. Their friction-free offering is coming at the ideal time for American consumers, who are looking for safer payment options and greater financial control in the wake of the pandemic.”