FinTech startup Curve raised £4 million on Crowdcube in the first 42 minutes of its latest crowdfunding campaign, in the fastest ever raise seen by the crowdfunding platform.

The London based firm, which enables users to merge all of their cards into one in a smart card and mobile app, has now hit the £6 million milestone from 9,591 individuals, after the raise launched to pre-registered customers yesterday.

The company had initially planned to raise £1 million, but funding surpassed that target in under five minutes and reached £6 million within four hours and 41 minutes, setting a record for Crowdcube.

The FinTech also secured a record number of investors for the Crowdcube platform, beating the previous record-holder Chip, which had around 6,500 investors.

The move comes after the platform secured $55 million from its Series B funding round in June, valuing the company at a $250 million and making it the UK’s fifth most funded consumer FinTech. The crowdfund will increase the total investment in the business to over £60 million.

It claims to be on track to reach one million customers by the end of 2019, and employs more than 160 people across its offices in London and Bristol.

The company said it would roll out a series of new features for the UK market, while continuing growth into six European markets later this year - including France, Germany, Italy, Poland, Portugal and Spain - as well as launching operations into the US by mid next year.

Shachar Bialick, founder and chief executive of Curve, said: “We have been blown away by this record-breaking investment from the Curve community and we are delighted to welcome them on board our mission to move banking to the cloud and change the world of finance forever.”

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