Form3, a quiet giant in UK fintech, raises $60M at a $570M valuation
Form3, a startup building tools to connect financial players with each other to enable account payments, has it raised $60 million to continue expanding.
The global economy remains in a sticky spot, in the words of the International Monetary Fund. Understandably, banks and other financial players are therefore looking to do what they can to bring down operating costs while spurring more financial activity.
Today, Form3, one of the startups building tools to do just that by connecting financial players with each other to enable account payments, said it raised $60 million to continue expanding its business.
British Patient Capital is making the investment, which closes out Form3’s Series C at $220 million. Others in the round include a mix of notable strategic and financial investors such as Visa, Goldman Sachs, MasterCard, Barclays, Molten Ventures and 83North. Sources familiar with the matter told TechCrunch that the startup is valued in the region of $570 million post-money.
A lot of fintechs wade into the market with disruptive mentalities — they are outsiders who see what is broken and are inspired to fix it. Form3 has slightly different DNA.