UK account-to-account payments platform Form3 has raised a total of $60m in C-series extension funding with new investor British Patient Capital leading the way with a $10 million punt.
The new cash closes out Form3’s long-running Series C at $220 million. Others in the round include Visa, Goldman Sachs, MasterCard, Barclays, Molten Ventures and 83North.
Benyam Hagos, chief financial officer, Form3 says: “British Patient Capital’s investment enables Form3 to continue to deliver mission-critical infrastructure technology for the world’s most established banks and financial institutions.”
The Form3 client base includes its network of investor banks alongside newer fintech companies like Klarna, N26, Sumup and Thought Machine,
In the UK - where it serves clients such as Barclays, Lloyds Bank and Nationwide - it already handles more than 50% of all of the country’s non-cash payment volume.
Tom Haywood, managing director, direct investments, British Patient Capital, says: “Form3 has built a leading solution for a challenge that banks worldwide are facing: how to transition to a modern, future-proof payments infrastructure. We are delighted to support them as they take the next steps in their growth journey”.