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        Curve, a UK-based provider of digital banking services, raised GBP 58 million (~USD 71 million) in an extension to its Series C funding, in a round that saw participation from Britannia, IDC Ventures, Cercano Management, and Cohen Circle, among others. The total funds raised by the company now stand at GBP 208 million (~USD 255 million).
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        The fresh funds will be used to improve customer experience, develop new partnerships, and expand its product offering.
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        Curve currently serves more than 4.5 million customers worldwide.
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    <a href="https://www.prnewswire.com/news-releases/curve-secures-additional-58-million-bringing-its-series-c-funding-round-to-over-133-million-301934172.html">
      Press release
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Neobanks

DISRUPTOR_PRESENT

Curve, a UK-based digital banking services provider, has raised £58 million in an extension to its Series C funding round. The company's total funds raised now amount to £208 million. The funding will be used to enhance customer experience, establish new partnerships, and expand product offerings. Curve currently serves over 4.5 million customers globally.

Curve secures USD 71 million in Series C extension round

UK-based lender for SMEs, Fleximize, has secured £136 million ($166 million) in securitized funding led by Goldman Sachs Asset Management and Citi. The company plans to use the funds to pay off existing debt, expand lending operations, and fuel future growth. Fleximize, a digital lending platform, uses proprietary technology to offer finance solutions to businesses.

Fleximize raises GBP 136 million in funding from Goldman Sachs and Citi

UK-based B2B digital bank wamo has raised $1.5m in a seed extension funding round, bringing its total funds raised to $6.8m. The funds will be used to develop credit products and features for SMEs, expand into new markets, and apply for an electronic money institution license in Finland. Since its launch in 2018, wamo has processed almost €1.3bn in transactions and opened business accounts for 7,500 new customers in Europe and the UK. The company also offers a marketplace called "wamo Connect" that provides SMEs with access to various services, such as accountancy platforms and marketing agencies.

wamo raises USD 1.5 million in seed extension

PROMINENT_CATEGORY

UK-based neobank Revolut has launched RevTags, a free cross-border payment solution for its business customers. RevTags enables businesses to transact in over 29 currencies within the Revolut network across 150 countries and regions. It is positioned as an alternative to SWIFT payments, eliminating the need for IBANs and additional beneficiary details.

Revolut introduces ‘RevTags’ for free cross-border payments

Neobank Greenlight will collaborate with Apiture to integrate its family banking services onto Apiture's Consumer Banking Solution. This partnership will allow Apiture's clients to access Greenlight's range of family banking tools aimed at improving children's financial literacy. Greenlight for Banks, introduced in March 2023, enables partner institutions to offer Greenlight's family banking and educational products to their customers for free.

Greenlight to integrate family banking services on Apiture’s banking platform

Panacea Financial, a neobank aimed at healthcare professionals, has teamed up with Bankjoy to provide a range of digital banking services. The partnership enables customers to handle their personal and medical practice finances through online and mobile banking platforms. Established last year, Panacea Financial is a subsidiary of Primis Financial and offers a range of banking services tailored to healthcare professionals across the US. These include personal and business accounts, loans, and insurance products.

Panacea Financial partners with Bankjoy to offer full suite of digital banking solutions

UK neobank Monzo has introduced an investment product that allows its customers to invest in funds managed by BlackRock. Customers can join a waitlist and those eligible can create investment pots and invest in three curated funds with varying levels of risk. Users can start investing with as little as £1 and have the flexibility to amend, cancel, or withdraw their investments whenever they choose. However, Monzo will restrict the opening of new investments for customers experiencing financial difficulty, such as falling behind on debt payments. Monzo currently serves over eight million customers in the UK.

Monzo launches ‘Investments’ for customers to invest in BlackRock-managed funds

UK digital bank, Kroo, is seeking to raise between GBP 55 million and GBP 70 million in its Series C funding round. The bank plans to target various investors across the UK, US, and Europe, including family offices, institutional investors, venture capitalists, and private equity firms. The funds raised will be used to expand Kroo's product portfolio, increase its customer base, and grow its loan book. Since its launch just a few years ago, Kroo has already accumulated nearly GBP 750 million in deposits and serves 130,000 current account customers but aims to serve one million customers by 2025.

Kroo aims to raise GBP 55 million–70 million in Series C funding

ANALYST_QUICK_TAKE

Zopa, a UK-based neobank, has raised £75 million in Tier-2 capital led by IAG SilverStripe, bringing its total capital raised this year to £150 million. The funds will be used to strengthen finances, develop new products, fuel growth, and explore suitable acquisitions. Zopa currently serves one million customers and is on track for an annualized revenue run rate of £250 million. In addition to this funding, Zopa has recently acquired DivideBuy, entered the BNPL market, and launched a smart Individual Savings Account that allows tax-free savings up to £20,000.

Zopa raises additional GBP 75 million in debt funding

Bluevine, a neobank for small businesses, is increasing the FDIC insurance coverage on its checking accounts to $3 million, compared to the standard coverage of $250,000 per depositor per insured bank. This allows customers to spread their deposits among 17 different banks to reduce risk. Bluevine is able to offer this through its partnership with Coastal Community Bank. Customers will be automatically enrolled in the additional insurance coverage, but can opt out if they choose. Additionally, customers will still receive a 2.0% interest rate on balances up to $250,000.

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