Digital wallet company Curve announced a strategic investment by Samsung Next. This new investment brings Curve’s total raised funds to over $250 million. The funding will be used to enhance its products and offerings to financial consumers.
Digital wallets are expected to make up about half of all e-commerce spending in the UK valued at an estimated £203.5 billion by 2027. And Curve is looking to race ahead by enabling consumers to consolidate multiple cards into a single smart card and app while receiving many financial features that offer unparalleled flexibility, convenience, and financial insights.
The company’s approach enables users to move transactions between cards after they have already been made, eliminate currency conversion fees, earn up to 20% cash back on purchases, and use a host of financial wearables for ease and convenience. And by utilizing the latest financial technologies, Curve equips users with data-driven insights to facilitate tailored financial decisions.
This funding follows Curve’s recent pre-launch of its innovative alternative mobile payment solution to Apple Pay, scheduled to become available on iOS across Europe later this year. And this comes on the back of the European Commission investigation into Apple’s unfair restriction of competition and that the market has now been opened to alternative providers for iOS users. Customers who previously used Apple Pay for mobile payments can switch their default wallet to Curve to capitalize on Curve’s array of benefits.
KEY QUOTES:
“Consumers often juggle multiple debit and credit cards, leading to a fragmented and cumbersome financial experience. We invested in Curve because of its innovative approach to consolidating multiple cards and accounts into a single digital wallet, offering seamless interoperability and enhanced user experience without requiring consumers to switch banks or change their behavior.”
– Carlos Castellanos, investor at Samsung Next
“We are thrilled to have Samsung Next’s financial backing. For four years, Samsung Pay+ powered by Curve in the U.K. has combined all your cards from any bank into one digital card for easy shopping. This latest investment will allow us to continue to deliver the best mobile wallet for our customers. At Curve, we aim to offer consumers a superior payment experience that provides true value and freedom, far beyond what traditional digital wallets have been able to offer.”
– Shachar Bialik, CEO and Founder of Curve
