Business Wire

Barclays and Angel CoFund Back Form3 in $5M Series A Funding

Jaa

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.”

About Form3

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

About Barclays

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.

www.angelcofund.co.uk

Contact information

Dina Communications
Shamira Alidina, +44 (0) 7801 590718
Media Relations Director
shamira@dinacomms.com

Tietoja julkaisijasta

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, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Rimini Street Announces $140 Million Refinancing19.6.2018 00:30Tiedote

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, today announced it has entered into a binding agreement with a syndicate of investors, including a fourth round of equity participation by Rimini Street’s largest shareholder, Adams Street Partners, to refinance its current credit facility with the issuance of $140 million of Series A convertible preferred stock and 2.9 million shares of common stock. Closing is subject to a shareholder vote and certain other customary closing conditions. Holders of a majority of the Company’s common stock have agreed to vote in favor of the transaction, and the Company expects the transaction to close in the third quarter of 2018. The transaction is expected to unlock more than $95 million of cash flow over the next three years as compared to the current credit facility. The transaction extends the expected financing matu

Quanergy to Feature ‘Qortex for Security’ at IFSEC18.6.2018 23:30Tiedote

Quanergy Systems, Inc., a global leader in the design and development of solid state LiDAR sensors and smart sensing solutions, today announced that it will be demonstrating its LiDAR-based security system at multiple booths during IFSEC International, Europe’s premier security trade show. This year’s conference will take place June 19-21, 2018 in London, UK. Quanergy’s security system, Qortex for Security, is an innovative, LiDAR-based 3D perimeter fencing and intrusion detection system. An integrated hardware and software platform, this intelligent security solution combines Quanergy’s M8 mechanical LiDAR sensor with its proprietary Qortex perception software. The platform is fully integrated into existing VMS (Video Management System) and PSIM (Physical Security Information Management) infrastructure and offers surveillance automation with real-time people detection, tracking and classification. “Qortex for Security is a prime example of the many benefits that LiDAR hardware and sof

Inside Secure to Provide Secure Provisioning Solutions to NationalChip18.6.2018 18:35Tiedote

Regulatory News: Inside Secure (Paris:INSD), at the heart of security solutions for mobile and connected devices, announced it entered into an agreement with Hangzhou NationalChip Science and Technology Co., Ltd, a leading innovator and developer of SoCs (system-on-chip), to use Inside Secure’s Secure Provisioning Solution to build robust security into its products during the chip manufacturing process. Secure provisioning is recognized as a crucial, foundational security building block across diverse markets including automotive, entertainment, IoT, mobile and TV. Securing devices or end products can be worthless if their identities and cryptographic keys have been compromised during manufacturing. Widely-publicized attacks have targeted provisioning because they can affect large numbers of devices and are difficult to detect. Chipmakers and device manufacturers see the potential for new revenue sources by offering secure provisioning to their customers, leveraging technology solution

Citi Private Bank Congratulates Fernando Alonso on the 24 Hours of Le Mans Win18.6.2018 17:01Tiedote

Citi Private Bank ardently congratulates Fernando Alonso for his impressive win at The 24 Hours of Le Mans this past weekend. Mr. Alonso, who is also a two time Formula One World Champion, most recently competed and won the Six Hours of Spa-Francorchamps in May. In January he debuted at the Rolex 24 at Daytona. Previously he participated in the Indianapolis 500 in May of 2017. He was sponsored by Citi Private Bank for all four races. Alongside the Indianapolis 500 and the Monaco Grand Prix, Le Mans makes up one third of ‘the Triple Crown of Motor Racing’. Having already won Monaco twice, Mr. Alonso is on a quest to become only the second driver in history to complete the Triple Crown. “Fernando drove one the most thrilling races at Le Mans that I have ever seen. His stunning night time drive will likely go down as one of the greatest victories in motorsport’s history,” said Peter Clive Charrington, Global Head of Citi Private Bank. “Fernando possesses an unrelenting drive toward excell

Inteva Products Receives Top Innovation Award for Revolutionary Stitching Process18.6.2018 16:31Tiedote

Inteva Products, LLC, a leading global Tier One automotive supplier of engineered components and systems, received the top prize in the 2018 Innovation Awards presented by the European Association of Automotive Suppliers (CLEPA) at The Hague, Netherlands, on June 13. Inteva was recognized for its new real-time scanning process for the robotic stitching of automotive interiors. This innovative technology will be used on instrument panels for the 2019 Chevrolet Silverado and GMC Sierra pickup trucks. The new process enables “live” scanning and immediate adjustments to the program path of robotic stitching equipment as a component is being stitched. This approach aligns leading-edge advances in the use of lasers in automotive manufacturing with Inteva’s unique robotic stitching technologies. The advancement reduces the average cycle time of a stitched surface by approximately 20-30%. The 2018 CLEPA Innovation Awards, organized in cooperation with Deloitte, celebrate automotive excellence

P&G Advances Systemic Change for Gender Equality in Advertising at 2018 Cannes Lions Festival of Creativity18.6.2018 15:25Tiedote

The Procter & Gamble Company (NYSE: PG) today advanced its commitment to gender equality through a series of new actions, commitments and partnerships to increase diversity throughout the creative supply chain, leading to more accurate and positive portrayals of women in advertising and media, and driving growth and social good. Women and girls are inaccurately or negatively portrayed in 29 percent of ads and media programs*, and women continue to be underrepresented behind the camera: only 32 percent of Chief Marketing Officers, 33 percent of Chief Creative Officers and a mere 10 percent of Commercial Directors are women. These issues persist despite evidence that gender-equal ads perform 10 percent higher in trust and 26 percent higher in sales growth*. To address these issues, P&G has called for an aspiration to achieve 100% accurate and positive portrayals of women in advertising and media, supported by equal representation of women and men in the creative supply chain. P&G is lead

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