Curve bags $95m fundraise as it sets its sights on US expansion

All-your-cards-in-one fintech Curve has closed a $95m Series C fundraise, bringing its total raised to date to $175m. 

The round was led by IDC Ventures, Fuel Venture Capital and Vulcan Capital, the investment arm of Microsoft co-founder Paul Allen’s estate.

Other investors in the round include Us personal finance firm OneMain Financial and Novum Capital as well as other existing investors. 

Curve was first rumoured to be looking for around $100m in funding back in September 2020 when Crowdcube scoped out potential investors asking if they would partake in a second campaign for the fintech. 

Shachar Bialick, founder and CEO of Curve, said: “We are ecstatic that our investors share Curve’s vision to empower as many people as possible to take control of their money and move banking to the cloud.”

“This fundraise stands out as an endorsement of Curve’s unique product strategy, the excitement surrounding the debut of Curve Credit, and the upcoming launch of Curve in the US.”

The fintech, which was first reported to be looking for around $100m back in September, says it will use the fresh cash to work on international expansion, including across the pond where Amanda Orson has been running its North American office in Brooklyn since February 2020.

Curve says it will also use the injection of capital to deepen its involvement in Europe, as well as launching new products, including the long-awaited Curve Credit in early 2021.

Bobby Aitkenhead, managing partner of IDC Ventures, added: “We are proud to support Curve as they bring their much-needed seamless banking experience to the United States in 2021.”

“Ever since we first invested in Curve in 2019, Shachar Bialick and his team have inspired us with their energy and vision of an all-in-one banking platform.IDC Ventures looks forward to scaling this journey to greater heights in 2021, reaching more people, with more products in more regions.”

Curve didn’t have the smoothest of years in 2020. In June the fintech was caught up in the collapse of German payment processing firm Wirecard, but managed to get back up and running, migrating over to a new payments system, in just 59 and a half hours.