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Samsung Next invests in Curve

Samsung Next invests in Curve

The venture arm of electronics giant Samsung has made a strategic investment in all-in-one card app Curve.

Curve, which has now raised over $250 million in total funding, lets users consolidate multiple cards into a single smart card and app. With fintech funding harder to come by, the new financing will be a welcome boost for the firm, which has been cutting its headcount and amending its business model in an effort to curb sustained losses and edge towards profitability.

The firm, which already helps power Samsung Pay+ in the UK, says the funding will bolster its goal to become the "operating system for money". The value of the investment was not disclosed.

This effort could soon get a major boost from Apple's anticipated deal with the European Commission, which will open up iPhones to third-party mobile wallet operators.

Curve has already pre-launched its Apple Pay alternative, encouraging people across Europe to switch their default wallet later this year.

Shachar Bialik, CEO, Curve, says: "At Curve, we aim to offer consumers a superior payment experience that provides true value and freedom, far beyond what traditional digital wallets have been able to offer.

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