UK card consolidator fintech Curve raises £6m via crowdfunding round, in just couple of hours!
UK card consolidator fintech Curve has raised nearly £6m from 9,565 investors through its first crowdfunding campaign on the Crowdcube platform.
In doing so, the fintech firm is said to break earlier records to become the fastest start-up to reach the £4m figure on Crowdcube. According to media reports, the firm reached the mark within 42 minutes.
In August this year, Curve announced plans to launch a crowdfunding campaign with an aim to raise £1m. The company already raised around six times the target amount.
Eligible investors were allowed to invest between £10 and £25,000 during the crowdfunding.
Curve founder and CEO Shachar Bialick said:
“We have been blown away by this record breaking investment from the Curve community and we are delighted to welcome them on board our mission to move banking to the cloud and change the world of finance forever.”
Launched in 2018, Curve allows users to consolidate all their payment cards into one smart card and app. The company raised more than £70M since its launch and is valued at around $250m. This July, Curve raised $55m in a funding round led by Gauss Ventures.
Currently, the card consolidator fintech has a user base of over 500,000. It aims to increase the figure to more than one million by the end of the year.
The firm’s offices in London and Bristol have staff headcount of around 160.
In the last few months, Curve announced the launch of a series of new products. It includes Curve Cash which gives 1% instant cashback to customers as well as Curve customer protection covering claims up to £100,000.
Everything is great here. Sounds good, the idea of consolidating all my cards is awesome, especially that I actually use 3 of them regularly and have 5 in total (wow).
So now something on a less positive note. I've ordered Curve, well - is it is such a hot company, with half a million happy customers, have to try it. First things first - website. I wasn't too impressed. App as well, is not slick. I am not talking only about the design, also UX. But.. well, most important should be how the card works, not the design - right (don't judge the book by its cover)?
The card came after almost 2 weeks (!), rather cheap packaging, compare to Revolut or Monzo ... better not to compare :(.
And when I touched my card I knew that I will not switch my awesome metal Revolut or colourful Monzo cards to average quality, thin and bendy one. Will give it a shot though, to see how it works while traveling. Maybe I will be proved wrong. We will see.
For now.
Dear Curve Team!
Congratulation on the round, and fingers crossed for future growth