Samsung’s venture arm, Samsung Next, has made a strategic investment in the all-in-one card app, Curve. This investment comes as a significant boost for Curve, which has now raised over $250 million in total funding. Curve allows users to consolidate multiple cards into a single smart card and app, offering a seamless payment experience.
With fintech funding becoming more challenging to secure, this new financing is timely for Curve, which has been working on reducing its headcount and revising its business model to mitigate losses and move towards profitability.
Already a key player in powering Samsung Pay+ in the UK, Curve aims to enhance its position as the “operating system for money” with this investment. Although the value of Samsung’s investment hasn’t been disclosed, it is expected to further Curve’s mission of providing a superior payment experience.
This strategic move aligns with the anticipated deal between Apple and the European Commission, which would allow third-party mobile wallet operators on iPhones. Curve has already pre-launched its Apple Pay alternative, encouraging European users to switch their default wallet later this year.
Shachar Bialik, CEO of Curve, emphasizes their commitment to offering consumers a payment experience that surpasses traditional digital wallets, providing more value and freedom.
This partnership with Samsung Next not only strengthens Curve’s financial footing but also positions it strategically in the evolving fintech landscape, ready to leverage new opportunities and drive innovation in digital payments.
Curve Compliance Profile
- Trading Name: Curve
- Legal Entity: Curve OS Limited
- Location: London, England
- Regulations: regulated EMI by the FCA
- Key People: Shachar Bialick, Founder and CEO/Scott Weller, CFO/Alistair Houghton, General Counsel & Company Secretary/Eric Molitor, Chief Technology Officer
Curve is an e-Money Institution (EMI) licensed by the FCA (firm reference number 900926). The UK fintech startup was founded in 2015 by Shachar Bialick (Linkedin). It offers a smartcard and an app that allows customers to consolidate and manage all their bank cards in one place.