Venture Capital: UK Fintech Curve Eyeing Fundraise Between £100m and £120m

August 3, 2020 | FinTech, News, Venture Capital
https://dailyalts.com/wp-content/uploads/2020/08/screenshot-www.curve_.com-2020.08.03-16_01_59.png

The fintech is looking to raise the money in its Series C round, according to an exclusive report by Sifted.

Sifted revealed that London-based fintech Curve may raise an amount upwards of £100 million in a proposed Series C round. It reportedly started its efforts to raise money earlier this year and if the efforts pay off, it could be one of the biggest raises by a fintech in Europe this year amidst the pandemic.

Curve call for funds

Sources told Sifted that Curve was raising the money to fund its international rollouts in France, Germany, Italy, Poland, Portugal, and Spain.

However, the company may also have suffered a decline in revenues over the lockdown period as users likely used their cards less in retail stores. Curve makes its revenues from the interchange fees it charges when customers use its cards. It also charges a subscription fee for its premium products.

It also suffered business interruptions due to the Wirecard scandal.

However, Curve could gain in the future from the data it has in its possession relating to card usage by consumers. The fintech connects all a consumer’s different cards into one smart card run through a single app.

Curve raising

The fintech previously raised $55 million Series B last July at a valuation of $250 million.  The raising was led by Gauss Ventures,  alongside Creditease, IDC Ventures, and previous backer Outward VC. Several other early investors, including Santander InnoVentures, Breega, Seedcamp, and Speedinvest also participated.

Other fintechs that raised money in the lockdown were Revolut, Monzo, and Checkout.com.

According to Sifted, Curve’s chief executive Shachar Bialick may be coming to market to raise funds before there is a further deterioration in VC sentiment due to the pandemic.

Monzo had to face a down round in its latest raising and there has been some talk of “investor fatigue” relating to fintechs.

Related Story:   UK-based Checkout.com Lands $150M at a $5.5B Valuation

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/12/AMD_headquarters_santa_clara.624da707519a6.jpg
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…

https://dailyalts.com/wp-content/uploads/2023/12/RHCEU-Inline.jpg
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…

https://dailyalts.com/wp-content/uploads/2023/12/Samsung_UK_Samsung_Pay_Lifestyle_0552-revised-Pictogram-23.11.30-1024x744-1.png
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…

https://dailyalts.com/wp-content/uploads/2023/12/Revaia-founders.jpg
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…