Curve combines multiple debit and credit cards into a single smart card. Credit: teve Buissinne from Pixabay.

UK-based card consolidation platform Curve has raised approximately $14m (£10m) in equity funding to support its growth and expansion.

Curve said this equity raise from 11,795 investors is the largest ever on the Crowdcube platform. The campaign was for Curve customers and retail investors.

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The funding brings the total amount raised by the company so far to nearly £132m. This includes the Series C financing round led by IDC Ventures, Fuel Venture Capital and Vulcan Capital.

Apart from growth and expansion, Curve will use the equity raise and Series C proceeds to focus on product innovation.

It has plans to launch the Curve OS platform in the US and expand its European presence. The fresh funds will also support the launch of its credit and loan offering called Curve Credit in the UK and Europe.

In this context, the company will employ an additional 200 people this year.

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Curve founder and CEO Shachar Bialick said: “Ever since our last crowdfund in 2019, our customers have been requesting another opportunity to take a share in Curve.

“So we launched this campaign to give the public a chance to join us as we embark on the next stage of our exciting journey, when we reveal Curve Credit to the world and launch in the US.

“We’ve been blown away by the level of interest we’ve seen over the past three days, and I’m so excited to welcome nearly 12,000 investors on board.”

Curve combines multiple debit and credit cards and accounts into a single smart card and app.

Last year, the company employed about 100 new staff and increased its customer base by two times. The company’s volume of transactions rose by nearly £1bn to £2.6bn.