London fintech Curve raises £44m, valued at £200m
Curve, the London fintech startup that allows consumers to combine multiple bank cards into one, has raised $55 million (£44 million).
The new round brings the startup's total funding to £80 million, and reportedly values the company at £200 million.
Curve combines multiple debit and credit cards into one app, along with an accompanying card.
Users can pay with their Curve card, and then select which of their accounts they wish the payment to come out of.
The company's founder and chief executive, Shachar Bialick, said Curve is distinct from prominent 'challenger banks' such as Monzo and Starling. “Curve is playing a completely different ball game," he said."
“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."
The company employs 150 people across offices in London and Bristol. It currently boasts around half a million customers, and predicts that it will reach the million-user mark by the end of the year.
The new round was led by fintech and data economy investment firm Gauss Ventures. Michael Burns, a partner at the company, said: “The success of Curve, demonstrated by its outstanding growth, is a clear testament to the opportunity in re-bundling of financial products and services.”
Other participants in the round included new investors Creditease and IDC Ventures, along with existing backers such as Seedcamp. The company is also backed by the venture capital wing of Santander.
Bialick added: "Receiving this level of investment from such prominent investors is a fantastic endorsement of the value and experience Curve brings to its customers.”