Money
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Chloe Shakesby

London fintech commits to creating "at least" 200 jobs this year following "largest ever" crowdfund

A London financial app has announced that it has closed its largest ever crowdfund as it focuses on international expansion and plans to create 200 jobs.

Curve, a financial ‘super app’, has closed the largest ever equity raise on Crowdcube, hitting nearly £10m in funding from 11,795 investors.

The company is aiming to use the funds to drive its international expansion, creating “at least” 200 jobs this year as it rolls out its Curve OS platform in the US and broadens its reach in Europe, as well as launching a new Curve Credit service.

The funds raised the £132m Curve has raised in cash and capital commitments to-date, including the capital secured in the app’s recent Series C, led by IDC Ventures, Fuel Venture Capital and Vulcan Capital.

Shachar Bialick, founder and CEO of Curve, said: “Ever since our last crowdfund in 2019, our customers have been requesting another opportunity to take a share in Curve.

“So we launched this campaign to give the public a chance to join us as we embark on the next stage of our exciting journey, when we reveal Curve Credit to the world and launch in the US.

“We’ve been blown away by the level of interest we’ve seen over the past three days, and I’m so excited to welcome nearly 12,000 investors on board.”

Luke Lang, co-founder and CMO of Crowdcube, said: “Hats off to Curve for another landmark raise with Crowdcube, they continue to impress investors with their unique proposition.

“It’s a really exciting time for their shareholders, both new and existing, to be part of their ongoing success and their mission to shape the future of finance.”

Bobby Aitkenhead, managing partner of IDC Ventures, said: “As one of the lead investors in Curve, we’re ecstatic to see such a phenomenal response from its customers and community.

“Digitalisation is stepping up pace globally, as is financial services fragmentation. Pioneering companies like Curve have huge potential to shape the future of finance. They’re already, and will continue, to add so much value to our lives. We’re proud to support them in this journey to the top.”

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