Payments start-up Form3 has raised $13m in a Series B funding round led by venture capital firm Draper Esprit.
Draper Esprit investment director Vinoth Jayakumar said: “Form3 is a cloud-native product which enables cutting edge fintechs and established players to offer their customers real-time payments.
“Their scalable product enables the infrastructure for the future of banking. They’re exactly what we look for in a portfolio company and we’re delighted to be working with Michael and his team.”
Other participants in the fundraising were Barclays Bank, and Angel CoFund.
With the new capital, Form3 intends to build on the momentum in the UK and Europe, expand its footprint into international markets as well as strengthen its product line up.
Form3 CEO Michael Mueller said: “We are really pleased with the support we have received in this funding round which reflects both the long-term potential of the business and our track record of successfully delivering high quality services for our customers.
“Our mission remains clearly focused on lowering the barriers for better access to payment systems and, in doing so, powering the future of payments.”
Established in 2016, Form3 facilitates cloud-based payments-as-a-service processing for financial institutions. Among its clients are Ebury, N26, Tandem Bank, LHV Bank, and myPOS.