Curve kicks off 2021 with a $95m Series C to help international expansion

Curve, which enables consumers to combine multiple cards and accounts into a single card and app, has collected $95m in its Series C round.

With the equity injection, the company plans to expand internationally, including the US, and deepening its presence in Europe. The London-based company will also use funds to further its product innovation efforts and continue its goal of connecting all finances to one location.

IDC Ventures, Fuel Venture Capital and Vulcan Capital led the round, with contributions also coming from OneMain Financial and Novum Capital.

Fuel Venture Capital founding partner Jeff Ransdell said, “Curve allows customers to stay with their preferred banks while taking advantage of the latest financial technologies, connecting institutions with innovation and building a true ecosystem play.

“Their collaborative model has been immensely successful in Europe and we are confident that it will prove equally so in the US, where physical cards are still dominant.”

With the close of the round, the company has raised a total of $175m in funding.

Curve claims the funding has come after a strong year of growth, which has seen it reach two million customers, launch several new products and partnerships, expanded its team and reach more markets.

Vulcan Capital portfolio manager Rick Robert 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.  We are excited to be part of the next phase in Curve’s ambitious journey.”

Last year, the company established a subsidiary in Lithuania to ensure access to the EU after Brexit. The decision was twofold. Firstly, the company wants to keep serving customers across the EEA after the Brexit transition period. Secondly, it favours Lithuania due to its strong anti-money-laundering competencies, FinTech friendly regulator and diverse workforce.

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