Curve secures investment from Samsung Next

By Gloria Methri

Curve, a developer of UK-based digital wallets, has 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 enhance its products and offerings to financial consumers.

Digital wallets are expected to comprise half of all e-commerce spending in the UK and be worth approx. £203 billion by 2027. Curve, an expert in this sector, aims to race ahead in the competition by combining multiple cards and accounts into a single, smart card and app.

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 make 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. It offers seamless interoperability and enhanced user experience without requiring consumers to switch banks or change their behaviour,” said Carlos Castellanos, Investor at Samsung Next.

Shachar Bialik, CEO and Founder of Curve, commented, “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, which will become available on iOS across Europe later this year. Customers who previously used Apple Pay for mobile payments can switch their default wallet to Curve to capitalize on Curve’s array of benefits.