Fintech firm Curve launches in the US

After opening its North American office in 2020 and raising $95m in funding in 2021, London-based fintech Curve has now launched in the US.

The “financial super app” allows users to combine all debit, credit and loyalty cards into one, with a range of other features including the ability to “go back in time” to move payments between banks.

Unlike its competitors, which offer checking accounts via an app, Curve combines users’ debit and credit cards into one platform and a linked smart card for payments.

Following in the footsteps of other British firms, such as Monzo and Revolut,Curve has now set its sights firmly on expansion across North America.

Competing against traditional firms such as JP Morgan, Citigroup and Bank of America, as well as thousands of smaller community banks across the US, it will be a tough market for the firm to crack.

However, with a waitlist of 50,000 when the app went live in the UK in January 2018 and at least 15,000 on the waitlist for the US launch, according to Twitter users waiting, the start-up looks to be well-positioned. 

“Curve is evolving and to launch in the US is an incredibly exciting milestone for us,” founder and CEO of Curve Shachar Bialick said.

“By empowering US customers with their finances, we hope to help more people towards a better financial future,” he added.

US customers will also be able to access Curve’s newest feature, Curve Credit, which the company says functions as a ‘buy now pay later’ alternative. 

It allows customers to buy directly using a credit line, either paid in full at a later date or through a payment plan.

Curve Instalments will also be added to the US soon, allowing customers to make purchases and spread the costs of any purchase over three, six, nine or 12 months.

Boasting over 3m users now and competing in 31 markets, Curve has not been without its controversies in the past.

A 2019 Business Insider report said the company failed to disclose to crowdfunding investors that just 14 per cent of customers used its app once a month or more.

It was then accused of deleting this information and the contents of the “Controversy” section of its Wikipedia page in December 2020. 

In June 2020 the fintech was also caught up in the collapse of German payment processing firm Wirecard, but managed to get back up and running, migrating over to a new payment system in just 59 and a half hours.