Technology

London’s cloud-based payment FinTech Form3 raises $ 160 million and plans to expand into the United States

Based in London Form3 Design, build and implement the technologies that underpin the future of payments. Today, the company announced that it has raised $ 160 million in a Series C funding round.

Plan to expand into the United States

NS investment The round was led by new investor Goldman Sachs and was attended by leading VC firm Draper Esprit and existing investors such as Lloyds Banking Group, National Building and Loan Union, Barclays, Mastercard and 83 North. The investment brings the total funding raised by the platform payment technology provider to $ 220 million.

Form3 will use this money to enter new markets, including the United States, which has advanced discussions with many banks. With an ambitious strategic roadmap within platform capabilities across regions, Form3 will further strengthen its position as a leading global player in platform payment technology.

Michael Mueller, Chief Executive Officer of Form 3, commented: Cloud-native technology is now proven on an industrial scale, is reliable and growing. This announcement marks the beginning of Form 3’s global expansion and is the funding needed to address the next major payment challenge. How smart payments should be – Cloud-native technology and exciting new phases to come will make it unique. “

Vinoth Jayakumar, a partner at Draper Esprit, said: Growth over the last four years has been astounding and continues to provide new and disruptive solutions to industries in desperate need of modernization. We welcome your Goldman Sachs trip by doubling your support for the Form3 team. “

Compatible with the digital age

Founded in 2016, Form 3’s platform is a cloud-native payment platform. Designed for the modern digital age, it supports open source collaborative development. All parts of the platform are managed using the infrastructure as code. Form3 has grown unprecedented since its debut and is committed to radically changing the way technology operates in key banking industries.

Form3 transforms outdated, complex and costly payment infrastructure into the latest cloud-native real-time Payments-as-a-Service. It provides banks and regulated FinTechs around the world with end-to-end managed payment services that provide complete payment processing, clearing and payments to the world of payment schemes via a single API.



https://www.uktech.news/news/london-fintech-form3-funding-20210916 London’s cloud-based payment FinTech Form3 raises $ 160 million and plans to expand into the United States

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