Form3, a London, UK-based cloud technology provider of Payments-as-a-Service processing for banks and regulated fintechs, raised $13m in Series B funding.
Backers included Draper Esprit along with existing shareholders Barclays Bank, Angel CoFund and several individuals.
The company intends to use the funds to develop additional services, expand into international markets, and grow the organization.
Established in 2016 and led by CEO Michael Mueller, Form3 provides a cloud-native, real-time payment technology platform to enable banks and regulated fintechs to create products.
The company’s micro-services architecture and APIs that provide a single point of access to the full universe of payment schemes, with no hardware or software required by customers. Services include processing for UK and Europe (FPS, BACS, CHAPS, SEPA, SEPA Instant & SWIFT). The service is used by the world’s leading financial institutions.
Existing customers include Ebury, N26, Tandem Bank, LHV Bank and myPOS.