Curve Launches New Crowdfund to Bring Customers Closer to its Growth Journey
- Curve launches new crowdfunding round to enable its 2m+ customers to be part of the super app’s exciting growth journey
- Potential investors can now pre-register to receive early access to the campaign ahead of its public launch
- New crowdfund follows Curve’s successful £72.5m Series C fundraise
- Funds will be used to support product innovation and Curve’s expansion into the US and deeper into Europe
Curve, the fast-growing financial super app, announces it’s launching a new crowdfunding round to enable its growing customer base to invest, as it fuels its expansion into the US and further into Europe. The campaign is set to go live sometime in May.
Having secured £72.5 million from a leading group of international investors as part of its successful Series C round, Curve is now extending the opportunity to its customers and wider community to take part in the next stage of its ambitious growth strategy.
Since its record-breaking crowdfund in 2019, which raised £4 million within 42 minutes, Curve’s valuation has tripled. In the last year alone, Curve hired over 100 new staff, doubled its customer base to over two million, and saw the volume of transactions it processes increase by over £1 billion to £2.6 billion, despite the backdrop of a global pandemic.
The proceeds of the crowdfunding and Series C round will be used to turbocharge growth by investing in product innovation and international expansion. Curve’s 2021 roadmap includes the rollout of its new Curve Credit offering, the launch of its award-winning platform to customers in the US, and broadening its reach across Europe. To deliver this, Curve plans to grow its workforce by around 60%, adding at least 200 employees over the course of 2021.
The crowdfund will be conducted via Crowdcube. The campaign will enable those that missed out on the opportunity to invest in Curve in 2019 to follow in the footsteps of some of the most respected global institutional investors in tech, including IDC Ventures, Fuel Venture Capital and Vulcan Capital (the investment arm of the estate of Microsoft co-founder and philanthropist Paul G. Allen).
Shachar Bialick, Founder and CEO of Curve, said: “2020 was a transformational year for Curve, and I believe 2021 will be bigger yet, as we fulfil our mission to build a financial super app. With increasing fragmentation in financial services, and growing demand from consumers for a simpler way to control and manage their finances, the scene is set for Curve to seize a global opportunity. We are investing in our people and the business to make that happen.
Since we place our customers at the heart of everything we do, we wanted to offer another chance for them to be involved in our success, enabling them to be part of our journey. We know many new customers missed out on our 2019 crowdfunding, and we’ve fielded constant requests to open a new round. So I am ecstatic to announce the launch of this crowdfunding campaign, and look forward to redefining the future of personal finance together with our customers and shareholders.”
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