Form3 secures £116m in Series C funding led by Goldman Sachs Asset Management to fuel global expansion.
Goldman Sachs Asset Management led the Series C round to support international expansion and platform development.
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 raised £116m in a Series C funding round led by Goldman Sachs Asset Management, with participation from several existing backers. The capital will support the company as it prepares to enter new international markets, including the United States. Existing investors contributing to the round include Lloyds Banking Group, Nationwide Building Society, Barclays, Mastercard, 83North, and Draper Esprit. The latest injection brings total funding raised by the business to $220m.
Investor perspective
"Financial institutions are increasingly turning to modern, cloud-based technologies in order to handle growing payment volumes efficiently and in real-time. We are delighted to be leading this investment round and look forward to working together with Form3 and other shareholders to help realise their ambitious global roadmap and strategic growth plan."
James Hayward
Managing Director, Goldman Sachs Asset Management
Use of funds
- 01Expand into international markets
Investors
James Hayward
Goldman Sachs Asset Management
Lloyds Banking Group
Nationwide Building Society
Barclays
Mastercard
83North
Vinoth Jayakumar
Draper Esprit