Curve prepares Crowdcube fundraising

By Roger Baird on 16th August 2019

Fintech

The London-based start-up plans to launch across six European markets by the end of this year.

Curve prepares Crowdcube fundraising
Image source: Company supplied

Curve plans to raise cash from customers through a Crowdcube campaign as the smart credit card start-up prepares to expand into new markets and plots new products.

The London-based firm, which lets customers hold all their credit and debit cards on a single card, said it is targetting a “seven-figure” sum through the crowdfunding platform, which launches next month.

Curve said its 500,000 customers will be able to invest as little as £10 to own part of the business and gain access to shareholder rewards, although it has yet to announce what they are on its Crowdcube page.

Israeli founder Shachar Bialick (pictured) said: “Innovation at Curve is constant, and we will be rolling out a series of game-changing benefits and functionalities, while continuing our growth into Europe in the months ahead.”

 

New European markets

The business, which currently employs more than 160 staff, plans to launch in France, Germany, Italy, Poland, Portugal and Spain by the end of this year. It intends to begin US operations in the US by the middle of next year.

Curve, founded in 2015, consolidates a range of cards from challenger banks such as Monzo, Starling and Revolut as well as a host of high-street lenders, building societies and store cards.

Its card offers 1 per cent back on all purchases at over 100 retailers including Amazon, Apple, Sainsbury’s, Waitrose Uber, Spotify and Netflix. 

Last month, Curve secured $55m in its Series B funding round, valuing the company at $250m. Institutional backers involved in the cash call include Gauss Ventures, Cathay Innovation, IDC Ventures and Santander InnoVentures.