Curve lands £37M in funding

Curve, the London fintech, has secured £37m in funding, led by a VC firm that invests in early and growth stage startups.

Hanaco Ventures, which is investing in Curve for the first time and has a focus on Israeli startups, led the round which also features existing Curve investors Fuel Ventures, IDC, Outward VC and Lord Stanley Fink.

Earlier this week new figures showed that Curve, an all-in-one payment fintech, reported a £36m loss in 2023, a 48 per cent improvement on the year before. The fintech says its goal is to break even in the “near term”.

Curve, founded in 2015 by Israeli entrepreneur Shachar Bialick, allows customers to use their banks and loyalty cards through one app, and says it has more than 5.5m customers. 

Curve said its latest funding will help it on the road to make a full-year profit and new product launches.

Curve has partnerships with Samsung, PayPal and Visa and is also planning to launch Curve Pay what it is billing as a rival to Apple Pay, a move in which it claims could save banks “millions of euros” that are paid to Apple in transaction fees.

Prior to this latest funding round, Curve, which is in over 30 markets, has raised over £200m in total funding including more than £40m in funding in 2024, which was made up of £29.7m in equity funding from new and existing investors and £11.6m from debt funding in the form of a convertible loan. 

Tomer Jacob, general partner, Hanaco, said:  

“The Curve team has proven to be resilient and innovative, and we are excited to support Curve as it continues to grow, bringing more choice and flexibility to the digital wallet market, and to its millions of users.”