Form3 and Ebury Partners secure £5m grant from Banking Competition Remedies to build an SME transaction platform.
The funding was awarded through the Capability and Innovation Fund Pool D grant to develop a global transaction platform for UK businesses.
Form3 provides a cloud-native account-to-account platform that handles critical payments architecture for major banks and financial institutions. Founded in 2016, the company operates an always-on service utilised across the UK, Europe and the US.
Form3 has secured £5m in grant funding from Banking Competition Remedies in partnership with Ebury Partners. The award comes from the Capability and Innovation Fund Pool D grant, selected from a field of 60 applications. The capital will support the two companies in developing a global transaction platform for small and medium-sized enterprises.
From the founder
"Form3’s FI API payment technology and Ebury’s global SME transaction services are already disrupting payments and forex. Our plan is to combine these unique capabilities to significantly disrupt the market and give UK SMEs access to these services at scale through our FI clients, enabling UK SMEs to grow their businesses internationally and focus on their core businesses."
Michael Mueller
Chief Executive Officer at Form3
Use of funds
- 01Continue product development