Tuesday, October 15, 2024
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Form3 bags $60m Series C extension with new investor British Patient Capital

  • Form3, a UK-based paytech, raised $60 million in a Series C extension round.
  • British Patient Capital, a subsidiary of the British Business Bank, joined as a new investor.
  • The funding will be used for product and service development, with a focus on growth in key markets: the UK, Europe, and the US.
  • Form3 completed certification for the FedNowSM instant payment system in the US in 2023.
  • This raise follows a $160 million Series C in 2021, supported by investors such as Lloyds Banking Group, Nationwide, Barclays, and Mastercard, with Goldman Sachs as the lead investor.
  • Visa also invested in Form3 in 2022 as part of their commercial partnership.
  • Form3’s platform provides account-to-account (A2A) payment processing for banks and financial institutions, including Klarna, which uses Form3’s Payments-as-a-Service (PaaS) technology for instant payments in Europe.

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