Curve has announced that it has raised an additional £58m extension of its Series C round, bringing its total to over £133m. The round saw participation from Britannia, IDC Ventures, Cercano Management, Cohen Circle, Outward VC as well as many other existing shareholders.
The new funds will be used to improve the overall customer experience. Curve just recently rolled out its new app, which includes a marketplace of financial applets and expands its Flex offerings
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Partnerships and profit on the horizon
Curve has experienced growth in 2023, having transformed its business model allowing it to improve its gross margin. In turn, it looks to enter a phase of scaling the business in a sustainable way towards the path to profitability in early 2024. Following on from the increase in funding, Curve has teased a major partnership with a payments giant, with a public announcement expected to be made later this month.
Shachar Bialick, Founder and CEO of Curve, said: “We are extremely pleased with the interest we received in our Series C extension round and the support we received from our existing shareholders. It’s a testament of the execution of our team, the strength of our product, and business as a whole.
“This last raise brings with it renewed responsibility to our shareholders and our customers; To build a good product and an exciting business, by executing well. Curve’s product is something that investors, partners and customers alike are drawn to naturally, and with this additional cash, we look forward to bringing more people closer to financial independence.”
Daniel Cohen, Co-Founder, Cohen Circle, a participate in the Series C round of funding, added: “We’re so excited about Curve and its potential to be a payments super app, as well as its ability to change the way consumers treat their cards and credit as part of a holistic payment methodology. It continues to build and provide its users with great value,” added Daniel Cohen, Co-Founder, Cohen Circle.
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