UK Fintech Curve beats records with crowdfunding milestone
FinTech app Curve, which consolidates multiple cards and accounts into a single card and accompany app, has set a new record by raising £4m just minutes after launching its first ever crowdfunding campaign.
The firm claims the achievement makes it the fastest start-up to reach the figure in history.
Last month, Curve announced plans to launch a seven figure crowdfunding campaign for early September, with plans to raise £1m, but after its launch to pre-registered customers, the firm received four times the figure.
The current overfunding amount stands at £5m, and also claims to have records for the number of investors investing in a campaign through the Crowdcube crowdfunding platform.
Previous record-holder Chip had around 6,500 investors, it said.
“Curve customers are the beating heart of Curve and the unprecedented success of our first ever funding round demonstrates their faith in the business and shows the world that people are ready for a revolution in finance,” said Shachar Bialick, Founder and CEO of Curve.
“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."
Luke Lang, co-founder of Crowdcube, added that the firm had successfully inspired its community.
“The impressive level of investment underlines the strong bond Curve has with its community, who clearly believe in the company and I'm sure will help supercharge its next phase of growth,” he added.
Curve now has over 500,000 customers and employs 160 across its offices in London and Bristol.
The business has already raised over £60m to date since its launch in 2018. It said it is on track to achieve its millionth customer by the end of the year.
In June, the FinTech firm launched Curve Cash which gives Curve customers unlimited 1 per cent cashback at leading retailers such as Amazon, Uber, Spotify, and Netflix.