Form3 Secures $60 Million in Series C+ Funding: Visa Leads the Charge in Boosting UK Payment Powerhouse
Form3 Secures $60 Million in C+ Round Financing with Visa and British Patient Capital
British payment service provider Form3 Financial Cloud has completed its C+ round of financing, securing a total of $60 million (approximately 54 million euros) from investors British Patient Capital and Visa.
This latest round of financing brings Form3’s total Series C financing to $220 million (approximately 200 million euros), with a post-financing valuation of $570 million (approximately 517 million euros).
The UK company will utilize the funds to develop new products and services, supporting growth in key markets including the UK, Europe, and the US.
Form3’s Chief Financial Officer, Benyam Hagos, stated, “The investment from UK-based Patient Capital enables Form3 to continue providing mission-critical infrastructure technology to the world’s most established banks and financial institutions.”
About Form3
Founded in 2016, Form3 is an account-to-account platform that provides a fully managed payments technology platform-as-a-service to financial institutions. The company’s mission is to disrupt the traditional payments infrastructure model with an always-on, cloud-native Payments-as-a-Service platform.
Today, Form3 is trusted by leading banks and global financial institutions in the UK, Europe, and the US to handle critical payment infrastructure. The company works with regulated financial institutions, including large corporate banks and digital challenger banks, such as Mastercard, Lloyds Banking Group, Ebury, LHV, PPS, N26, Square, Aion Bank, and many more.
About British Patient Capital
UK Patient Capital Limited is a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. Its mission is to provide long-term investments to innovative businesses led by ambitious entrepreneurs who want to build large-scale enterprises.
Founded in June 2018, Patient Capital manages over £3 billion of assets and invests in venture capital and venture growth capital to support innovative UK companies with high growth potential.
Tom Haywood, Managing Director of Direct Investments at Patient Capital UK, said, “Form3 has built a leading solution to the challenge facing banks around the world: how to transition to a modern, future-proof payments infrastructure. We are delighted to support them in taking the next step in their growth journey.”