Curve raises nearly £10m in its most successful crowdfunding campaign yet 

By Aisling Finn on Friday 28 May 2021

Digital Banking

The fintech raised £6m in two hours and 49 minutes, smashing the previous record set in its 2019 campaign of £6m raised in four hours and 42 minutes.

Curve raises nearly £10m in its most successful crowdfunding campaign yet 
Image source: Shachar Bialick/Curve

 

Crowdfunding is a rite of passage for UK fintechs and Curve is quickly becoming one of the most successful crowdfunders out there.  

In its most recent campaign, which closed at 3pm yesterday afternoon, the all-your-cards-in-one fintech raised just shy of £9.9m from nearly 12,000 eager investors.

“We had an initial goal of 10,000 investors and we’ve surpassed that goal now which is so great!,” Shachar Bialick, CEO and founder of Curve told AltFi.

“It’s really the most fulfilling thing sitting in the office and watching the bar go up and seeing questions coming out from potential investors and not even having the chance to answer before someone in the community coming in with the right answer. It’s just phenomenal!”

Curve’s initial target was £1m, which it easily sailed past. The fintech even beat its own record from its September 2019 campaign which saw it raise £6m in four hours and 42 minutes, while in its latest campaign, over the course of just two hours and 49 minutes, Curve hit the £6m mark.

As well as surpassing its own expectations, Curve saw its pre-money valuation triple to just under £592m.

When asked what’s next on the horizon for Curve, Bialick told AltFi that he has European domination on his mind.

“We’re really doubling down on growth in Europe. Most of our growth in Europe has been organic so far, we haven’t spend anything on marketing yet and there’s a real need for our products in Europe.”

“The next step will also be expansion in the US, which is set to go live later on this year. We are building a financial super app, and still have a long way to go, but moving into credit, customer loans and over time, even moving into crypto—allowing our customers to buy, sell, spend and send major cryptocurrencies from Curve directly.” 

Curve is also gearing up to launch its answer to Klarna, Curve Credit, later on this year. 

The firm teamed up with fellow fintech Credit Kudos earlier this year, with Kudos assessing the affordability and creditworthiness of customers who apply for Curve Credit.

As well as heading into the crypto space, Curve recently hopped on the NFT bandwagon, auctioning off five Curve-branded NFTs to support London’s Covid-19-hit theatres. 

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