City fintech Curve picks up $55m series B funding round
London fintech firm Curve has today closed a $55m (£43.9m) series B funding round, led by Gauss Ventures.
New investors Creditease and IDC Ventures also came on board. The round was similarly supported by existing investors, such as Seedcamp, Speedinvest and the venture capital arms of Santander and Investec.
Curve consolidates multiple bank accounts and cards into one smart card and app. It has over 500,000 customers, and is supported by teams of more than 150 people in its London and Bristol offices.
“Curve is playing a completely different ball game,” said chief executive and founder Shachar Bialick.
“It is not a challenger bank which means that we can focus on creating a radically better customer experience, without asking customers to trust their salaries with us, or the significant overhead of becoming a regulated bank. Receiving this level of investment from such prominent investors is a fantastic endorsement of the value and experience Curve brings to its customers.”
Curve is already available in 31 European countries and plans to use the fresh funding to expand its product offering in the UK, Europe and overseas.
The startup said it will officially launch into six European markets later this year – France, Germany, Italy, Poland, Portugal and Spain – and aims to launch its operations in the US by mid-2020.
It is now valued at $250m, which Curve said places it in the top five UK consumer-focused fintechs next to Transferwise, Monzo, Revolut and Starling Bank.
Main image credit: Curve