Samsung Next's investment will bolster Curve's goal to become
the operating system for money
LONDON, June 24,
2024 /PRNewswire/ -- 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.
Media Contact:
Joseph
Moses
Joseph@campaignpr.tech
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SOURCE Curve