Banking platform, Curve, which consolidates multiple cards and accounts into a smart card and app, has raised £4m just minutes after launching its first-ever crowdfunding campaign – making it the fastest start-up to reach the figure in history.
Last month, Curve announced plans to launch a seven figure crowdfunding campaign for early September, with plans to raise £1m. However, just 42 minutes after launching to pre-registered customers, Curve had raised four times that figure, breaking records in the process. The current overfunding amount stands at £5m.
Curve has also broken records for the number of investors investing in a campaign through the Crowdcube platform, beating the previous record-holder Chip who had around 6,500 investors.
Crowdcube is the world’s largest equity crowdfunding platform and boasts a remarkable track record for successful fintech crowdfunding for businesses such as Monzo, Nutmeg, and Freetrade.
Shachar Bialick, Founder and CEO of Curve said: “Curve customers are the beating heart of Curve and the unprecedented success of our first ever funding round demonstrates their faith in the business and shows the world that people are ready for a revolution in finance. We have been blown away by this record breaking investment from the Curve community and we are delighted to welcome them on board our mission to move banking to the cloud and change the world of finance forever.”
Luke Lang, co-founder of Crowdcube, said: “Curve has brilliantly inspired its community with its vision to create a better financial world, its innovative product and ambitious team. The impressive level of investment underlines the strong bond Curve has with its community, who clearly believe in the company and I’m sure will help supercharge its next phase of growth.”
Curve has grown its customer base to over 500,000 customers as well as employing over 160 people across its offices in London and Bristol. The business has already raised over £60m to date.