London-based fintech Curve has secured $95m in its latest fundraising round to fuel its expansion into the US and launch a new credit product.
Founded in 2015, the startup allows users to consolidate all their credit and debit cards into one smart card and app.
The Series C round was led by IDC Ventures, Fuel Venture Capital and Vulcan Capital, with participation from OneMain Financial, and brings the total capital raised to almost $175m.
It has grown its leadership team and announced plans to open its first US office as a base for its Stateside operations.
The startup has said it will use the fresh round of funding to not only expand geographically but drive new products including Curve Credit.
“This fundraise stands out as an endorsement of Curve’s unique product strategy, the excitement surrounding the debut of Curve Credit, and the upcoming launch of Curve in the US,” founder and chief executive Shachar Bialick said.
Compared to its challenge bank peers Monzo and Revolut, Curve enjoyed somewhat of a stellar 2020 despite the pandemic. It reached 2m customers after extending its offering to include Apple Pay, Samsung Pay and Google Pay for its European customers.
But the year was not without its hiccups. As one of the few fintechs to use disgraced payments firm Wirecard’s solutions in the UK it was hit by a three-day outage after the regulator froze Wirecard’s UK business.