Samsung Next’s investment will bolster Curve’s goal to become the operating system for money
LONDON, June 24, 2024 – Curve, the leading digital wallet, today announced a strategic investment by Samsung Next. This new investment takes Curve’s total raised funds to over $250 million and will be used to further enhance its products and offerings to financial consumers.
With digital wallets expected to comprise half of all e-commerce spending in the UK, worth an estimated £203.5 billion by 2027, competition in the digital wallet market is intensifying. Curve, a pioneer in this sector, is looking to race ahead by enabling consumers to consolidate multiple cards into a single smart card and app and receive a host of financial features that offer unparalleled flexibility, convenience, and financial insights. Curve’s approach allows 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. Moreover, by harnessing the latest financial technologies, Curve equips users with data-driven insights to facilitate tailored financial decisions.
“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,” said Carlos Castellanos, investor at Samsung Next.
Shachar Bialik, CEO and Founder of Curve commented, “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.”
This investment 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. This came 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.
About Curve
Curve is the ultimate mobile wallet. It is revolutionising the way people spend, send, see, and save their money by consolidating multiple cards into a single smart card and app. The company’s mission is to become the ultimate destination for all consumer financial needs, offering seamless access to a comprehensive suite of financial products and services through the Curve Wallet. Unlike other solutions, Curve empowers users to enhance their existing bank accounts without the need to switch banks. Curve is also available as a wearable device, from smart rings to bracelets and watch straps, providing convenient and stylish payment options. With a presence in 31 markets across the UK and European Economic Area (EEA), Curve is transforming personal finance for users worldwide.
SOURCE: Curve