Form3 raises $5m in Series A funding from Barclays and Angel CoFund to expand operations.
Barclays and Angel CoFund backed the payments platform to support international expansion and product development.
≈ £3.8M at $1 = £0.7671 on 18 Jul 2017
Form3 operates a cloud-based, secure platform for global payments processing, serving financial institutions and fintech firms.
Form3 has secured $5m in a Series A funding round backed by Barclays, the Angel CoFund, and several individual investors alongside existing shareholders.
The capital will be directed towards supporting the company expansion across Europe and North America, as well as launching new real-time payment services for SEPA and the United States. Form3 also plans to expand its team to accommodate growing demand from challenger banks and payment institutions.
The company offers a cloud-native Payments-as-a-Service model that allows clients to subscribe to various payment services, bypassing the need for complex, monolithic integrations.
From the founder
"We see Form3 as the next generation of payments platform"
Michael Mueller
CEO at Form3
Investor perspective
"Barclays is a world leader in payments capabilities and has a long track-record in payments innovation. We see Form3 as an enabler for positive change in the payments landscape. Form3 has rapidly deployed services to be a significant challenger to current technology options. We view the emerging Payments-as-a-Service model as complementary to our existing capabilities, offering clients further choice. We look forward to working with Form3 as they build out their model"
Dan Roberts
Managing Director, Barclays
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Continue product development
