Barclays and Angel CoFund Back Form3 in $5M Series A Funding
18.7.2017 10:00 | Business Wire
Form3, the cloud-based, end-to-end, secure platform for global payments processing, today announced it has secured strategic investment from Barclays, the Angel CoFund and several individual investors who have joined the existing shareholders in raising $5m. This latest funding will be used to continue building on Form3’s momentum in the UK and expand services across Europe and North America.
Form3 will use this round of funding to continue expanding its API based Payments-as-a-Service platform to offer clients real-time and interbank payment types. In addition to the current offering for UK Faster Payments, Bacs, CHAPS, SEPA and SWIFT, Form3 will launch SEPA real-time services from November 2017 and US real-time from early 2018. Form3 plans to significantly expand its team to support its growth within the challenger bank and fintech community, as well as payment institutions, banks and financial institution sectors.
“We see Form3 as the next generation of payments platform,” said Michael Mueller, CEO, Form3. He adds: “Our clients quickly see the benefits of our cloud-native platform, often starting with a single payment type to improve their client proposition. There is no roll-out of complex projects with big teams and monolithic payment hubs, gateways, integrations etc. Clients simply subscribe to a payment service and we take care of the rest. A low-cost setup and pay as you go commercial model makes leading edge payment capability accessible economically for small or very high volumes users. We are very excited about the support we have received in this funding round, it is a testament to our growing client base and our ability to meet the market needs for better access to payment systems.”
Dan Roberts, Managing Director at Barclays said: “Barclays is a world leader in payments capabilities and has a long track-record in payments innovation. We see Form3 as an enabler for positive change in the payments landscape. Form3 has rapidly deployed services to be a significant challenger to current technology options. We view the emerging Payments-as-a-Service model as complementary to our existing capabilities, offering clients further choice. We look forward to working with Form3 as they build out their model."
Tim Mills, Investment Director at Angel CoFund, added: “We’re very pleased to be backing Form3 as they create an essential component in the global drive to deliver better payment processing, clearing, and settlement services. This vital connecting infrastructure will make many improvements and innovations in fintech and everyday commerce possible.”
Form3 is a fresh approach to payment technology and servicing in the cloud. Form3 provides end-to-end Payments-as-a-Service for financial institutions and regulated financial technology firms. Reliable and secure cloud-based access to FPS, BACS, CHAPS, SEPA & SWIFT payment schemes and bank partnerships. The service is robust and reliable, trusted by the worlds leading financial institutions. Form3 streamlines and simplifies the operation and cost of payments processing, delivering value back to the business. Form3’s API is a single point of access to the full universe of payment schemes. Future-proofed at the point of delivery for complete peace of mind, resulting in a straight-forward, easy to use and hassle-free Payments-as-a-Service. Visit www.form3.tech
Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.
With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 85,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.
About Angel CoFund
Launched in 2011, the Angel CoFund is a privately managed and commercially-focused institution that works alongside groups of business angels to invest in high potential SMEs across the UK, directly providing funding as well as encouraging the expansion and development of the business angel market.
Supported by the British Business Bank with funding from the Department of Business, Energy and Industrial Strategy, the £100m Angel CoFund is able to make initial investments of between £100,000 and £1 million into businesses, alongside syndicates of business angels.
To date the Angel CoFund has supported 75 companies (for example Ebury, Gousto, Crowd Vision and Hopster) providing over £35 million in direct investment alongside more than £165m from business angels and other investors, making it one of the most active early stage investors in the country.
The Angel CoFund is a long-term investor and, in aggregate, sets aside £1 of further capital for every £1 it invests. The model gives portfolio companies and co-investors the support they need to propel strong growth.
Shamira Alidina, +44 (0) 7801 590718
Media Relations Director
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme tältä julkaisijalta, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Major Terrorist Plot Foiled in Saudi Arabia, Ministry of Interior Announces21.7.2017 21:33 | Tiedote
The following is a statement from Saudi Arabia’s Ministry of Culture and Information: This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170721005575/en/ Weapons and other items found in the possession of the three terrorists are an indication of the ugliness and severity of the acts of terrorism they were planning to carry out, victimizing innocent lives and private and public property. (Photo: ME NewsWire) The Saudi Ministry of Interior has announced that a major terrorist attack was prevented by security services in the city of Saihat in the Qatif governorate. On the evening of Friday, July 14th, security services intercepted a stolen Toyota Corolla vehicle in a busy, built-up district of the city. As the stolen vehicle was surrounded by security services, three men in the ca
Janssen Receives Positive CHMP Opinion for SYMTUZA™ The First Darunavir-Based Single-Tablet Regimen for the Treatment of HIV21.7.2017 15:09 | Tiedote
Janssen-Cilag International NV (Janssen) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has issued a Positive Opinion recommending marketing authorisation for SYMTUZA™ (darunavir/cobicistat/emtricitabine/tenofovir alafenamide [D/C/F/TAF]), a once-daily darunavir-based single tablet regimen (STR). If approved, it will be the only darunavir-based STR indicated for the treatment of human immunodeficiency virus type 1 (HIV-1) infection in adults and adolescents aged 12 years and older with body weight of at least 40 kg, with genotypic testing guiding use. This STR combines the proven efficacy and durability of darunavir with the improved renal laboratory and bone mineral density profile of F/TAF as compared to F/TDF (tenofovir disoproxil fumarate), and will be the only treatment that could deliver the adherence advantag
Ipsen Receives Positive CHMP Opinion for Approval of Xermelo® (Telotristat Ethyl), for the Treatment of Carcinoid Syndrome Diarrhea in Patients Inadequately Controlled by Somatostatin Analogue Therapy21.7.2017 14:26 | Tiedote
Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) today announced that the Committee for Medicinal Products for Human Use (CHMP), the scientific committee of the European Medicines Agency (EMA), has adopted a positive opinion recommending the approval of Xermelo® (telotristat ethyl) 250 mg three times a day (tid) for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analogue (SSA) therapy in adults inadequately controlled by SSA therapy. The CHMP positive opinion will now be reviewed by the European Commission (EC), which has the authority to approve medicines for use in the 28 countries of the European Union, as well as Norway, Liechtenstein and Iceland. David Meek, Chief Executive Officer of Ipsen, said: “The positive CHMP opinion for Xermelo ® is an important milestone towards providing innovative s
Schlumberger Announces Second-Quarter 2017 Results21.7.2017 14:00 | Tiedote
Schlumberger Limited (NYSE:SLB) today reported results for the second quarter of 2017. (Stated in millions, except per share amounts) Three Months Ended Change Jun. 30, 2017 Mar. 31, 2017 Jun. 30, 2016
NRI Secure Launches Japan's First "Blockchain Assessment" Service21.7.2017 10:00 | Tiedote
NRI SecureTechnologies, Ltd. (President: Jun Odashima; hereinafter NRI Secure), a leading provider of information security solutions in Japan, has begun providing Japan’s first-ever*1 “Blockchain Assessment,” a security Assessment service designed for systems and services which use blockchain technology*2. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170721005012/en/ Overview of the "Blockchain Assessment" Service (Graphic: Business Wire) As the blockchain technology has become more widespread, the presence of security-related vulnerabilities has also become increasingly apparent. In particular, with regard to smart contracts, *3 one of a constituent element of services using the blockchain, a cyberattack carried out on any vulnerable programs could lead to major threats or eve
Business Figures for the First Half of 2017: Sartorius Continues to Grow21.7.2017 08:00 | Tiedote
Sartorius (FWB:SRT), a leading international laboratory and pharmaceutical equipment supplier, continues on the growth track. In the first half of 2017, solid organic business development and two acquisitions led to a significant increase in sales revenue and earnings1. "Sartorius has continued its dynamic, profitable development," said CEO and Executive Board Chairman Dr. Joachim Kreuzburg in commenting on the company's first-half performance. "Both divisions achieved solid organic growth in an environment that was especially challenging in North America, and have made quick progress in integrating the businesses most recently acquired. In the Lab Products & Services Division, the bioanalytics unit newly created by our acquisitions has already contributed significant revenues and earnings. We see further considerable growth potential ahead for this business just as for the
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme