London startup Curve has passed 50,000 sign-ups and £50million user spend ahead of its full UK launch, and revealed plans to launch a consumer version of its 'connected finance' card this year.
Curve has also confirmed it will close a Series A funding round this summer, and unveil a ‘Connect’ feature that empowers users to manage their money and get a better deal on banking and fintech services all in one place.
Curve launched in Beta last year for entrepreneurs, sole traders and freelancers, as a better way to pay. The UK’s 5 million SMEs and 2 million freelancers now have a way to manage their personal and business spending in one place - with an all-cards-in-one Curve MasterCard® that eliminates bank FX fees abroad and simplifies expenses. Curve cards have now been used to pay in over 100 countries during Beta.
Driven by demand and “exceptionally high” satisfaction among Beta users, Curve will now launch for consumers later this year. Founder and CEO, Shachar Bialick, explains: “The time is right to scale up and launch Curve for consumers. We’ve built a simpler, safer way to spend and save money, without the need to change your behaviour or switch banks - that’s a unique proposition and one we hope consumers and our partners will love.”
The business has also confirmed plans for a ‘Curve Connect’ feature within the Curve app - allowing a user to integrate their spending with other banking and financial service providers, and enabling financial providers to offer their products via the Connect platform. The feature will see Curve become the world’s first ‘connected finance’ app.
“This is where Curve will really come into its own”, adds Curve Growth Lead, Charlie Taylor. “We’ve seen new mobile wallets digitise payments, new providers offer savings on FX fees or aggregated reward points, new banks make saving simpler and new money management tools help people get a better deal. But that has never been available in one place. It’s unchartered territory for the sector, and we believe it’s a glimpse of the future of banking.”
Curve has raised $5million in seed funding from VCs and fintech entrepreneurs, and will close a sizeable Series A funding round this month - with more than one major financial institution coming on board. Since launching in Beta, Curve has more than doubled its team and hired talent from Barclays, Accenture, Goldman Sachs, Happn, Thinkmoney, Quintessentially and Stanford University.