Form3's Mission to Modernize Banking Payments

Form3, a fintech startup, has raised $60 million to continue expanding its business. The investment, led by British Patient Capital, concludes Form3’s Series C funding round at $220 million. Notably, this round includes strategic investments from major players in the financial industry, including Visa, Goldman Sachs, Mastercard, Barclays, Molten Ventures, and 83North.

• Form3 is valued at approximately $570 million post-money.
• This investment highlights the growing demand for solutions that streamline banking and payments infrastructure.

Addressing Inefficiencies in Banking

Form3 was founded in 2016 by Mike Walters and Michael Mueller, both former Barclays employees, who identified inefficiencies in building new banking services. Their solution involved leveraging modern technology to create more efficient payment systems.

• The startup offers services like instant transfers, payment orchestration, fraud protection, direct debit, credit transfers, and more.
• Form3's approach focuses on enhancing the customer experience by simplifying and streamlining the process of managing financial transactions.

Form3's Impact on the Banking Industry

Form3 has become a prominent player in the fintech space, working with both established financial institutions and emerging neobanks. The company provides APIs that enable its clients to create faster and more efficient payment services for their customers.

• Form3's client base includes prominent names like Klarna, N26, SumUp, and Thought Machine, demonstrating its broad appeal across the banking landscape.
• Form3 currently handles over 50% of non-cash payment volume in the U.K., showcasing its significant market share.

Form3's Growth Strategy and Expansion

Form3 has ambitious plans for expansion. The company aims to double its processing volume globally within the next 12 months.

• The U.S. is a key focus area for Form3, as they seek to replicate their success in the U.K. market.
• This latest funding round supports Form3's strategic initiatives to enhance its technology, expand its reach, and solidify its position as a leader in the banking and payments space.

Investors' Confidence in Form3's Future

The investment from British Patient Capital and other notable investors underscores the confidence in Form3's potential to disrupt the banking industry.

• Tom Haywood, Managing Director of Direct Investments at British Patient Capital, stated that Form3 has built a "leading solution" to address the challenges faced by banks transitioning to modern, future-proof payment infrastructure.
• The significant investment from strategic partners like Visa, Goldman Sachs, and Mastercard demonstrates their belief in Form3's ability to deliver innovative solutions that enhance the banking experience.

The Importance of Modern Banking Infrastructure

Form3's success highlights the growing need for modern, efficient banking infrastructure. As financial technology continues to evolve, companies like Form3 are playing a crucial role in transforming the banking industry.

• Form3's innovative approach to payments and its focus on simplifying financial transactions are shaping the future of banking.
• The investment from major players in the financial industry validates the importance of Form3's technology and its potential to revolutionize the way we manage money.