Curve, a digital wallet provider, has obtained a £37m investment led by Hanaco Ventures with participation from existing investors such as Fuel Ventures, Outward VC, IDC, and Lord Stanley Fink.
This funding is earmarked for Curve’s 2025 plans, which include pioneering product launches and customer-focused improvements aimed at transforming consumer financial management. The investment also strengthens Curve’s finances, accelerating its journey towards profitability while supporting ongoing innovation and expansion.
According to Curve, the digital wallet market in the UK and Europe is poised for increased competition. This is due to regulatory changes requiring major players like Apple to open their near field communication (NFC) technology, alongside banks developing their own wallet solutions.
The fintech company said that this environment of heightened consumer demand for choice positions it to make significant advancements. The investment from Hanaco Ventures is expected to enable the firm to leverage these industry changes, broaden its market reach, fortify its infrastructure, and enhance customer experiences.
Curve founder and CEO Shachar Bialick said: “The Wallet Wars are here, and the only available solutions for customers to date are simple wallets which do nothing more than let you pay with your card.
“Curve is the only wallet that adds superpowers to your money; avoid Fx fees from any linked card, split old purchases into installments, earn cashback on top of any card and more.
“We see issuers looking to enter the market, and networks introducing innovative products such as Visa Flex and MasterCard One Credentials. This investment would allow us to invest further in our customer experience, bring new partnerships, and accelerate our path to profitability.”
Curve currently claims to serve over six million users globally with its digital wallet solution that offers enhanced control and flexibility. The Curve Card consolidates various financial tools into one card, offering benefits such as stacking rewards, real-time spending insights, and avoiding foreign exchange fees.
Notable features like Go Back in Time allow users to move transactions between cards retroactively, aiding in cash flow management and debt avoidance.
In addition to these features, Curve provides certain borrowing options. Curve ReFI allows balance transfers between cards instantaneously to prevent interest and late fees, while Curve Flex enables instalment payments on past or future purchases.
A recent partnership with Infact has introduced real-time credit reporting for Curve Flex users.
Curve’s digital wallet technology is not only said to digitise card storage but also enhances payment efficiency by minimising foreign transaction fees and allowing post-purchase card switches. This is reinforced by the Curve Wallet platform that integrates all payment methods securely and offers money-saving functionalities.
Curve is authorised across the UK, European Economic Area (EEA), and US, processing billions in payments annually while pioneering advancements in digital finance.
An anticipated development for the company is the launch of Curve Pay by 2025, offering a digital wallet alternative tailored for Android and iOS platforms.
Tomer Jacob at Hanaco Ventures said: “Curve reimagined the digital wallet delivering a one-of-a-kind financial experience that simplifies and supercharges how you pay and manage your money – all without changing your bank.
“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.”
