Curve Raises $55M Series B to Expand Card Consolidation Platform

Curve, a London-based fintech that consolidates multiple bank cards and accounts into a single smart card and app, raised $55 million in a Series B funding round in July 2019, valuing the company at $250 million. The round was led by Gauss Ventures, with participation from Creditease, Cathay Innovation, IDC Ventures, Outward VC, and existing investors including Santander InnoVentures, Breega, Seedcamp, and Speedinvest. At the time of the raise, Curve was available in 31 European countries and had 500,000 users, with a target of reaching 1 million by year-end.

The funds were earmarked for platform feature development, continued European expansion, and preparation for a planned U.S. launch in 2020. Curve's model of layering services on top of existing bank accounts positions it as an over-the-top banking platform in the embedded finance landscape. The involvement of Santander InnoVentures underscores traditional bank interest in fintech distribution models.