Form3 builds cloud-native payments infrastructure and APIs that let banks, neobanks and BaaS providers create faster, more efficient payment services. Its product set includes instant transfers, payment orchestration, fraud protection, direct debit and credit transfers. The company counts customers such as Klarna, N26, SumUp and Thought Machine, and works with strategic partners and investors including Visa, Mastercard and major banks. In the U.K. it already handles more than 50% of non-cash payment volume. Form3 has doubled its global processing volume in the last six to nine months and expects to double it again in the next 12 months as it expands into newer geographies like the U.S. The founders started the company in 2016 after encountering payment infrastructure challenges while at Barclays. Form3 provides API-based cloud payments technology used by financial institutions such as Goldman Sachs, Lloyds Bank and Nationwide Building Society to deliver mission-critical payments. The company focuses on cloud payments infrastructure for large banks. Founded in 2016 and based in London, Form3 offers scalable, mission-critical payment solutions. It recently secured €23 million from Atempo Growth to support acquisitions, new market entry and new product growth. Last year it completed a $160 million Series C led by Goldman Sachs. The company is positioning to accelerate expansion and continue offering market-leading cloud payments solutions. Form3 provides a cloud-native Payments-as-a-Service platform launched in 2017 and used by major Tier 1 banks and fast-growing fintechs. The company emphasizes cloud-based technologies and positions itself to make payments "smart" at industrial scale. Form3 reported 233% ARR growth in 2021 and now employs over 260 people across 22 countries. The startup is in advanced conversations with multiple U.S. banks and plans a global rollout, with a specific focus on expansion into the U.S. market. The latest funding is intended to fuel those expansion plans and tackle next-phase product and market challenges. Form3 offers a cloud-native payments platform used by banks and fintechs to process mission-critical payments. Founded in 2016 and headquartered in London with a regional hub in Amsterdam, the company has tripled in size since its $13M Series B in November 2018. Form3 reports its annual recurring revenue increased by 160 percent. The firm plans to use the new capital to build significant functional enhancements to its platform and to expand in existing and new markets. As part of its commercial strategy, Lloyds Banking Group and Nationwide Building Society will implement Form3’s solution for their customers. Penny Hughes has joined the board as a non-executive director. Form3 provides cloud-based payment-as-a-service technology designed to solve slow payment processing and enable real-time payments for banks and fintech companies. Its platform is targeted at institutions moving away from on-premise payment infrastructure. Existing clients named in the article include Ebury, N26, Tandem Bank, LHV Bank, and myPOS. The company says adoption of cloud payment platforms by major banks and fintechs has been slow so far, which affects its near-term traction. Form3 stated it believes the trend toward cloud-based payment solutions "is here to stay." The startup recently raised capital to support its growth and market push.

Total raised

$294M

Funding rounds

6

Latest round

Series C

Latest activity

Sep 2024