Barclays and Angel CoFund Back Form3 in $5M Series A Funding
Form3, the cloud-based, end-to-end, secure platform for global payments processing, today announced it has secured strategic investment from Barclays, the Angel CoFund and several individual investors who have joined the existing shareholders in raising $5m. This latest funding will be used to continue building on Form3’s momentum in the UK and expand services across Europe and North America.
Form3 will use this round of funding to continue expanding its API based Payments-as-a-Service platform to offer clients real-time and interbank payment types. In addition to the current offering for UK Faster Payments, Bacs, CHAPS, SEPA and SWIFT, Form3 will launch SEPA real-time services from November 2017 and US real-time from early 2018. Form3 plans to significantly expand its team to support its growth within the challenger bank and fintech community, as well as payment institutions, banks and financial institution sectors.
“We see Form3 as the next generation of payments platform,” said Michael Mueller, CEO, Form3. He adds: “Our clients quickly see the benefits of our cloud-native platform, often starting with a single payment type to improve their client proposition. There is no roll-out of complex projects with big teams and monolithic payment hubs, gateways, integrations etc. Clients simply subscribe to a payment service and we take care of the rest. A low-cost setup and pay as you go commercial model makes leading edge payment capability accessible economically for small or very high volumes users. We are very excited about the support we have received in this funding round, it is a testament to our growing client base and our ability to meet the market needs for better access to payment systems.”
Dan Roberts, Managing Director at Barclays said: “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."
Tim Mills, Investment Director at Angel CoFund, added: “We’re very pleased to be backing Form3 as they create an essential component in the global drive to deliver better payment processing, clearing, and settlement services. This vital connecting infrastructure will make many improvements and innovations in fintech and everyday commerce possible.”
Form3 is a fresh approach to payment technology and servicing in the cloud. Form3 provides end-to-end Payments-as-a-Service for financial institutions and regulated financial technology firms. Reliable and secure cloud-based access to FPS, BACS, CHAPS, SEPA & SWIFT payment schemes and bank partnerships. The service is robust and reliable, trusted by the worlds leading financial institutions. Form3 streamlines and simplifies the operation and cost of payments processing, delivering value back to the business. Form3’s API is a single point of access to the full universe of payment schemes. Future-proofed at the point of delivery for complete peace of mind, resulting in a straight-forward, easy to use and hassle-free Payments-as-a-Service. Visit www.form3.tech
Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.
With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 85,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.
About Angel CoFund
Launched in 2011, the Angel CoFund is a privately managed and commercially-focused institution that works alongside groups of business angels to invest in high potential SMEs across the UK, directly providing funding as well as encouraging the expansion and development of the business angel market.
Supported by the British Business Bank with funding from the Department of Business, Energy and Industrial Strategy, the £100m Angel CoFund is able to make initial investments of between £100,000 and £1 million into businesses, alongside syndicates of business angels.
To date the Angel CoFund has supported 75 companies (for example Ebury, Gousto, Crowd Vision and Hopster) providing over £35 million in direct investment alongside more than £165m from business angels and other investors, making it one of the most active early stage investors in the country.
The Angel CoFund is a long-term investor and, in aggregate, sets aside £1 of further capital for every £1 it invests. The model gives portfolio companies and co-investors the support they need to propel strong growth.
Shamira Alidina, +44 (0) 7801 590718
Media Relations Director
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
NBC Universal, Havas Group and Endemol Shine Discuss a Future with AI, Blockchain and VR at IBC201825.5.2018 18:20 | Pressemelding
As is fitting for the home of technical invention and innovation, IBC2018 will present a broad range of ambitious and timely elements to engage, inform and inspire content creators and owners from around the world that will visit the RAI, Amsterdam from 13-18 September 2018. The must-attend event includes fresh inspiring conference themes that will focus on innovative new platforms, audience engagement and interaction/immersion, as well as a wide-ranging exhibition that will encompass all the latest technologies from AI and VR to advanced cloud-based workflows. Registration for IBC2018 is now open at: https://ibc.itnint.com/IBC18/Online/RegLogin.aspx “The media landscape is evolving at an unprecedented rate, with new platforms, technologies and even new realities at our disposal that offer greater opportunities for content innovation and audience engagement,” said Michael Crimp, CEO, IBC. “IBC is preparing an outstanding programme of conference sessions, forums and exhibition features
Pavilion of France at the 16th International Architecture Exhibition – La Biennale di Venezia25.5.2018 09:26 | Pressemelding
The concept for Infinite Places , developed by the Encore Heureux team, led by the architects Nicola Delon, Julien Choppin, and Sébastien Eymard, presents places produced by new and inventive processes that generate architectural processes of value. This exhibition project, which considers the territory as a whole, highlights initiatives on the part of civil society and communities that embody a certain free spirit of experimentation and the possibilities opened up by architecture. These projects are expressions of programmatic freedom and generosity, and they live up to the theme of Freespace adopted by the two commissioners of the 16th International Architecture Exhibition – La Biennale di Venezia, the Irish architects Yvonne Farrell and Shelly McNamara. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180525005191/en/ French Pavilion Venice Architectural Biennale, copyright S. Scher Statement of the curators « Through the I
SIA Acquires Card Processing Businesses in Central and Southeastern Europe from First Data25.5.2018 08:30 | Pressemelding
SIA, a European high-tech leader in payment infrastructure and services, and First Data Corporation (NYSE: FDC), a global leader in commerce-enabling technology, have signed an agreement for SIA to acquire First Data’s card processing businesses in parts of Central and Southeastern Europe for €375 million. In 2017, these businesses generated a combined revenue of approximately €100 million for First Data. This acquisition by SIA provides card processing, card production, call center and back-office services, including 13.3 million payment cards, 1.4 billion transactions, in addition to the management of POS terminals and ATMs. These businesses are primarily located in 7 countries: Greece, Croatia, Czech Republic, Hungary, Romania, Serbia and Slovakia. As a result of the transaction, SIA will become a leading player in processing and services in the region. The agreement includes the transfer of about 1,400 First Data employees into SIA. “This acquisition is in line with our strategy to
Westinghouse Accident Tolerant Fuel Development Moves Forward with Cooperation Agreement with ENUSA25.5.2018 06:00 | Pressemelding
Westinghouse Electric Company today announced that it will collaborate in the development of its EnCore® Fuel, the revolutionary accident-tolerant fuel (ATF) design, with ENUSA Industrias Avanzadas (ENUSA) through a Frame Cooperation Agreement (FCA). “This agreement serves to strengthen the technical and commercial relations between ENUSA and Westinghouse as we work to develop leading nuclear fuel technology,” said Torbjörn Norén, European Fuel Group and EMEA Fuel Delivery Director at Westinghouse. “Westinghouse’s work with ENUSA in the Spanish and European Fuel Group markets will help to facilitate agreements with customers to launch EnCore Fuel demonstration programs in their plants.” Under the terms of the agreement, the newly signed FCA establishes the framework that will regulate the different Joint Development Programs (JDPs) to be launched between both companies. The first JDP will evaluate the application of the segmented rod concept and develop models of ATF / EnCore fuel beha
BRIC HOLDING Offers Aimedis – ICO: Germany’s Leading eHealth Platform Goes Public25.5.2018 06:00 | Pressemelding
Since Wednesday, May 16, investors finally have a chance to claim their share of a unique success story, the international market roll-out of Aimedis, by purchasing AIM tokens: AIM tokens are now available with a 20% presale bonus PLUS a 5% early bird-premium only at the Czech investment house BRIC INVEST https://www.bric-holding.com/home_en.html! Aimedis aims to shape the future of healthcare by providing an advanced and fully operational platform, secured by blockchain and supported by AI, that enables patients to take control, secure the exchange of their medical data, access the best healthcare providers, get advice, prescriptions, personal health upgrades and to become part of the health revolution. And we are not talking about the future: The revolutionary Aimedis platform is already deployed as a live working system and is already in use in major hospital groups in Germany! By issuing 300 million AIM tokens at a nominal value of 0,12 USD each, the Aimedis consortium will raise c
Alps Electric to Acquire Greina Technologies, Inc. as Part of Sensor Business Strengthening25.5.2018 02:33 | Pressemelding
Alps Electric Co., Ltd. (TOKYO: 6770; President: Toshihiro Kuriyama; Head Office: Tokyo) today announces that on May 14, 2018 the company signed a share purchase agreement with Greina Technologies, Inc. (Salt Lake City, Utah, U.S.A.; President/CTO: Daniel J. Lee) whereby Alps Electric will acquire Greina Technologies, making it a wholly owned subsidiary. Alps Electric signed a share purchase agreement with Greina Technologies on May 14, 2018. Through the agreement, Alps Electric aims to add even greater value to its sensing solutions for the automotive market, as well as the consumer electronics and mobile market, by combining high-accuracy positioning technology based on original algorithms developed by Greina Technologies with Alps Electric’s compact, high-performance wireless communication module technology. An engineering firm specializing in positioning systems, Greina Technologies was established in Salt Lake City, Utah, in September 2012. Engaging in such activities as design an