12 January 2021
We have advised UK fintech Curve on its USD$95 million Series C fundraising round in anticipation of its US launch and further European growth.
Our previous work with Curve includes advising on its USD$55m Series B funding round in 2019, its record-breaking crowdfunding, and supporting the company on key commercial transactions including a landmark collaboration with Samsung on SamsungPay.
Curve allows customers to consolidate their various debit and credit cards to a single smart card and app, providing an integrated and seamless 'over-the-top' banking platform. In 2020, Curve reached two million customers in 31 countries across the UK and Europe. It will use its latest capital raise to expand internationally, including to the US, and to grow its European reach even further to fulfil its ambition of becoming the leading financial superapp.
The investment round was led by IDC Ventures, Fuel Venture Capital and Vulcan Capital, with participation from OneMain Financial and Novum Capital. IDC Ventures counts prominent scale-ups such as Tradeshift, RecargaPay, Boatsetter and CookUnity as part of its portfolio. With a diverse and international investor base, our team worked across multiple jurisdictions and time zones including the UK, Spain, Germany and the US.
Alistair Houghton, General Counsel at Curve, said: "Josef and his team were great partners to Curve on our latest fundraising and once again demonstrated the value of their extensive fintech experience. The team were instrumental in helping us close a successful Series C round."
Josef Fuss, corporate technology partner, said: "Curve has a fantastic, innovative product. Working closely with Curve's excellent in-house legal team, this transaction allowed us to showcase our cross-practice fintech expertise and is a great example of our ability to support disruptive technology companies as they grow. We were delighted to advise Curve on this key transaction, and we look forward to continuing to support Curve on its exciting journey."
Our team was led by Josef Fuss, with support from: Siobhán Langwade (senior associate), Joshua Gertner (associate) and Rebecca Gaunt (associate) from our Corporate Technology team; Ann Casey (Head of Incentives) and Graham Samuel-Gibbon (partner) from our Tax & Incentives group; and Lauren Clarke (associate) from our Financial Services Regulatory group.
Our team worked closely with Curve's Israeli counsel, Naschitz Brandes Amir, on this transaction.