Team Breega had cause to celebrate earlier this month thanks to the announcement of Curve’s $95 m Series C round.
The fantastic Fintech’s fundraise is the well-deserved result of months of meetings with top-tier investors such as IDC Ventures, Fuel Venture Capital and Vulcan Capital. We’re delighted that all the hard work paid off and to welcome them aboard the Curve journey!
Coming just a year and a half after Curve’s $55 m Series B round, this latest raise brings the total amount raised by the company to almost $200 m. It goes to show that founder and CEO Shachar Bialick’s ambition to lead the emerging tech banking solutions sector is fast becoming a reality.
The first and the best
Launched in 2016, Curve is a one-of-a-kind, over-the-top banking solution that allows its customers to combine all their different bank accounts and cards into one smart card, and even smarter app.
Curve’s shiny metal and glamorous smart card allows you to combine all your debit, credit and loyalty cards into one. Meaning you can leave your wallet with your other cards at home and choose which account the Curve super card will spend from quickly and easily with the Curve app.
The Curve app allows you to track all your finances and manage your spending from wherever you are. Thanks to recent partnerships with Apple, Samsung and Google pay, Curve customers can now also pay with Curve through their phones. Easy.
The practical time-saving solution, has struck a chord with British and European consumers. Curve now counts more than 2 million UK and European customers. Its equity crowdfund last year broke records as thousands dashed to own a piece of the Fintech. Curve hit its fundraising target of £4 million in just a few minutes temporarily crashing the Crowdcube server!
Flashback to the beginning of the Curve x Breega adventure
Curve has definitely come a long way from the budding fintech with big ambitions that first caught the eye of Breega Co-Founding Partner, Ben Marrel, back in 2017.
Indeed, the then 20 person startup that could be found tucked away in the back office of a Shoreditch building has grown more than tenfold over the past three years, thanks mainly to Shachar’s drive and vision. It’s not without a little nostalgia that Ben Marrel describes their first meeting:
“I met Shachar in early 2017, after reading an article about Curve. I loved the value proposition so much that I got in touch. It was love at first sight! Shachar and I really hit it off, I bought into his vision. That’s how Curve became our very first investment in the UK.”.
Jumping on board
If Curve’s value proposition was exciting, the initial investment was not without risk. A high level of technical expertise is required to produce safe, efficient and user-friendly aggregate monitoring and management tools such as Curve’s and other startups – notably in the US – had previously tried, and failed in the area.
In spite of this, Breega boldly decided to back Curve during the company’s seed extension round and has continued to accompany the company in its growth, exchanging ideas and insights and providing operational advice and support.
A support, that according to Shachar has proved to be very valuable in helping the company:
“The support that we get from the Breega team has helped us establish the processes needed at a scale-up to hiring and embedding in new talent, while going full speed ahead. Ben is also really present and is great to work with.”
Surfing the growth Curve
The next two years will see Curve putting down roots in the US with the expansion of their New York office (check out their hiring page!). As Ben says:
“It’s great to see Curve getting into the US market which has vast potential. Americans tend to have several credit card accounts and margins on payments in the US are higher than in Europe. Curve will be able to capitalise on new US customer data to develop and propose other useful products and services on top of payments” .
Curve will also be deepening its European reach, thanks to their “Brexit proof” European office and using this latest funding to further fuel innovation and produce new features such as Curve Credit, which allows customers to split their spend into installments.
Overall, the past few months at the scaleup have been, and will remain, pretty busy. But despite Covid, Complications and Curveballs, we’re happy to say that the fintech is fast on its way to becoming the international leader in the banking solutions sector. And that’s one hell of a growth Curve !