Digital wallet platform Curve has secured a £37m investment led by Hanaco Ventures, alongside existing investors Fuel Ventures, IDC, Outward VC, and Lord Stanley Fink.
Curve intends to use the investment to strengthen its financial position as it approaches profitability and prepares to launch Curve Pay this year.
Curve Pay is a new digital wallet alternative intended for Android and iOS users.
With the new capital, Curve aims to advance its plans for this year, including launching industry-first products and implementing customer-driven enhancements.
The initiatives aim to transform how consumers manage their finances in future.
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 will leverage the market shifts, including regulatory changes and digital wallet adoption, to expand its presence while enhancing customer experiences.
Its digital wallet is designed to offer users greater control over their finances.
The platform currently serves over six million users globally, providing features such as stacking rewards, real-time spending insights, and the ability to avoid foreign exchange fees.
Its advanced ‘Go Back in Time’ feature allows users to retroactively move transactions between cards, improving cash flow management.
The investment from Hanaco Ventures will further support Curve’s efforts to capitalise on consumer demand for more financial choices.
Curve’s offerings, such as Curve ReFI and Curve Flex, provide unique borrowing features, helping customers manage debt and split purchases into manageable instalments.
Hanaco Ventures partner Tomer Jacob 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.”
Recently, Curve has partnered with Infact, the UK’s fintech credit bureau, to introduce real-time credit reporting for Curve Flex customers.
