Curve smashes crowdfund raise
The digital bank has overfunded its initial target by 500 per cent in rapid time as investors continue to allocate money to fintech via crowdfunding.
The great fintech crowdfunding love-in continues. Curve has raised £6m in a fast paced crowdfunding campaign that saw £4m raised in just 42 minutes as the firm looks to gear up its growth.
Curve, a digital banking platform that brings together different cards and accounts into one place, initially planned to raise £1m on Crowdcube but is allowing overfunding up to £6m.
A total of 9,591 people backed Curve, the highest number of investors in a raise on Crowdcube. The fundraise began at 10am UK time on Tuesday and five minutes later, investors ploughed in the first £1m.
Curve launched back in 2015 and early this year raised $55m in its Series B raise. The new crowdfunding investors join Gauss Ventures, Creditease, Cathay Innovation, IDC Ventures, Outward VC (previously Investec’s INVC fund), as well as several of our early stage investors such as Santander InnoVentures, Breega, Seedcamp, Connect and Speedinvest.
Curve also broke records for the number of investors investing in a campaign through the Crowdcube platform, beating the previous record-holder Chip who had around 6,500 investors.
Shachar Bialick, Founder and CEO of Curve said: “We have been blown away by this record breaking investment from the Curve community and we are delighted to welcome them on board our mission to move banking to the cloud and change the world of finance forever.”