Why we invested in Curve, a fintech company revolutionizing how consumers manage their financial lives
Consumers often juggle multiple debit and credit cards, leading to a fragmented and cumbersome financial experience. We invested in Curve because of its innovative approach to consolidating multiple cards and accounts into a single digital wallet, offering seamless interoperability and enhanced user experience without requiring consumers to switch banks or change their behavior.
Curve’s standout features, such as the “Go Back in Time” option, allow users to switch the payment source for transactions post-purchase, offering flexibility in managing rewards and avoiding fees. By consolidating multiple cards into a single hub, Curve simplifies card management and eliminates the need to carry several cards. Additionally, Curve enables rewards stacking, letting users earn extra cashback on top of their existing card rewards, and absorbs foreign transaction fees, saving users money when spending abroad. Features like real-time notifications, instant card freezing/unfreezing, and the ability to use credit cards at typically non-accepting merchants further enhance its appeal. These unique advantages position Curve as a distinct and valuable player in the digital wallet space.
In addition to the technology, we were drawn to the formidable team behind the product, led by CEO Shachar Bialick, an ex-Israeli Special Forces member with multiple successful exits and an MBA from INSEAD, and COO Norberto Vitale, who previously built and sold Encompass Media Digital. Their combined experience and vision have been instrumental in Curve’s rapid growth and innovative offerings. Under their stewardship, Curve has already made significant strides with 5 million users across 32 markets, including the U.K., continental Europe, and the U.S., and more than £3.5 billion in gross transaction volume. As digital payments are projected to grow from $9 trillion today to $15 trillion by 2027, Curve is poised to capture a substantial share of this expanding market.
In a highly fragmented financial services landscape, Curve stands out by offering a unified view of a consumer’s wallet, a key differentiator from competitors. Unlike many fintechs, which are aiming to become banks, Curve allows consumers to stay with their existing banks while enjoying enhanced functionality. This approach, combined with strategic agreements with major card networks, sets Curve apart as a leader in the digital wallet space.
Our investment in Curve aims to gain insights on how to enhance digital wallet capabilities, leverage extensive consumer spending data, and stay competitive in the rapidly growing digital payments market. Curve’s proven traction, innovative solutions, and experienced leadership team position it as a valuable partner for future growth in the fintech space.
Carlos Castellanos is an investor at Samsung Next. Samsung Next’s investment strategy is limited to its own views and does not reflect the vision or strategy of any other Samsung business unit, including, but not limited to, Samsung Electronics.