Member Article

Global payments firm has raised $5m from Barclays and the Angel Co-Fund

London-headquartered Form3, which provides a secure platform for global payments processing, has sealed $5m in Series A funding from Barclays, the Angel CoFund and individual investors.

The ‘payments-as-a-service’ platform works across industries and verticals including financial institutions, banks and FinTech firms to provide real-time and interbank payment types including UK Faster Payments, Bacs, CHAPS and others.

Based out of the City, the latest backing will support the company’s continued expansion in the UK and will drive its expansion into the European and North American markets.

Michael Mueller, CEO at Form3, said that he views the firm’s offering as the ‘next generation’ of payment platform and that the funding would help to expand access to its services.

He commented: “We are very excited about the support we have received in this funding round, it is a testament to our growing client base and our ability to meet the market needs for better access to payment systems.”

Dan Roberts, Managing Director at Barclays added: “Barclays is a world leader in payments capabilities and has a long track-record in payments innovation.

“We see Form3 as an enabler for positive change in the payments landscape. Form3 has rapidly deployed services to be a significant challenger to current technology options.

“We view the emerging Payments-as-a-Service model as complementary to our existing capabilities, offering clients further choice. We look forward to working with Form3 as they build out their model.”