Over the past half a decade, Fintech has turned into one of the most exciting industries in the world and the United Kingdom; it has become a particularly big industry. The reason behind the growth enjoyed by the Fintech sector is primarily down to the fact that London remains one of the world’s biggest financial centers and hence, Fintech companies have managed to find a niche there. Plenty of Fintech startups have come up over the years and one of the more important ones is Curve.
In a new development that would come as another significant boost to the Fintech industry in the United Kingdom, Curve has managed to secure a total of $55 million from investors as part of its Series B funding. The funding round now takes its valuation to $250,000 and needless to say, Curve still has a fair bit to go before it can become a Unicorn. That being said, the startup has grown pretty impressively ever since it started its operations back in 2016 with a seed funding of $16 million. However, the company is now looking to expand its services and one of the most ambitious ones is the creations of Over The Top Banking.
The Curve is currently ranked among the top 5 Fintech companies in the United Kingdom and with this round of funding; it will concentrate on creating the new product. It is interesting to note that this particular round of funding has been led by one of the most influential investors in the Fintech industry, Gauss Ventures. Gauss is currently involved in some of the best-known Fintech companies in the United Kingdom at the moment. It is a ringing endorsement of the company’s work so far and it remains to be seen how Curve manages to compete with larger firms over the next months. The Chief Executive Officer of Curve, Shachar Bialick stated,
“While the challenger and traditional banks are busy fighting to win or retain new customers, Curve is building an Over-The-Top Banking Platform that provides customers with a better banking experience with no need to change their bank.”