Fintech startup worth a quarter of a billion dollars with $55m investment

A banking platform that consolidates multiple accounts into one card and app has secured $55m in funding round.

London-based fintech Curve has secured the Series B investment to bolster its European launch, with this latest round valuing the firm at a quarter of a billion dollars.

Led by fintech investor Gauss Ventures, the round also saw participation from Creditease, Cathay Innovation, IDC Ventures and Outward VC (previously Investec’s INVC fund).

Shachar Bialick, founder and CEO of Curve explained: “Receiving this level of investment from such prominent investors is a fantastic endorsement of the value and experience Curve brings to its customers.”

Launched out of beta in 2018, the Curve platform has already expanded since securing Series A funding, with the firm opening six new offices across Europe earlier this year.

Last month the startup launched Curve Cash, giving customers unlimited 1 per cent instant cashback at retailers such as Amazon, Uber, Spotify, Netflix, Tesco and Sainsbury’s.

Shachar continued: “While the challenger and traditional banks are busy fighting to win or retain new customers, Curve is building an Over-The-Top Banking Platform that provides customers with a better banking experience with no need to change their bank.

“Curve is playing a completely different ball game, 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.”