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Mardi 21 Septembre 2021

Seed & Series: Form3 Announces a $160 million Series C funding round led by Goldman Sachs Asset Management


Form3, the leading platform payment technology provider, has today announced its Series C investment funding of $160 million.



Form3, the leading platform payment technology provider, has today announced its Series C investment funding of $160 million. The fundraising was led by the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs) and included participation from existing investors. This brings the company’s total fundraising to $220million.

Form3 welcomes new shareholder Goldman Sachs alongside existing investors Lloyds Banking Group, Nationwide Building Society, Barclays, Mastercard, 83North and Draper Esprit.

Form3 has seen unprecedented growth since launching its cloud-native payment technology platform in 2017 with a mission to fundamentally change the way that technology in this key industry operates.

Michael Mueller, Chief Executive Officer at Form3 commented, “More and more financial institutions (FI’s) are placing mission critical processes onto a platform. Cloud-native technology is now proven at an industrial scale and confidence is high and growing. This announcement marks the beginning of a global roll out for Form3, and the funding required to tackle the next big challenges in payments; how should payments become smart – uniquely possible with our cloud native technology and an exciting new phase to come.”

Form3 is expected to move into new markets including the USA where it is in advanced conversations with a number of banks. An ambitious strategic roadmap across geographies and within its platform functionality will further propel Form3 into pole position as a leading global player in platform payment technology.

James Hayward, Managing Director in the Growth Equity Business within Goldman Sachs Asset Management, commented: “Financial institutions are increasingly turning to modern, cloud-based technologies in order to handle growing payment volumes efficiently and in real-time. We are delighted to be leading this investment round and look forward to working together with Form3 and other shareholders to help realise their ambitious global roadmap and strategic growth plan.”

Vinoth Jayakumar, Partner at Draper Esprit said; “Form3 continues to prove its ability to own and drive a pioneering, innovative narrative in cloud native payments for financial institutions. We are excited to double down on our support for the Form3 team and welcome Goldman Sachs and 83North to the journey.”

Watch the short film: https://vimeo.com/604705425
Read the full story online: https://www.form3.tech/newsroom

About Form3
Form3 design, build and run the technology that powers the future of payments.
Founded In 2016, Form3 set out to revolutionise the world of payment processing and disrupt the traditional payment infrastructure model, with an always on, cloud-native, Payments-as-a-Service platform. Today, Form3 is trusted by some of UK and Europe’s biggest Tier1 banks and fastest-growing FinTech’s to handle their critical payments architecture.
Form3’s annual recurring revenue in 2021 grew by 233% and now employs over 260 people in 22 countries.
Form3 has been awarded Best Cloud Payments Platform 2021 by Paytech and Fintech Finance, most influential fintech company in 2021 by The Financial Technologist and ranked in the Top European Fintechs to watch by Sifted 2020.
https://form3.tech/

Disclaimer: The text above is a press release that was not written by Finyear.com.
Avertissement : Le texte ci-dessus est un communiqué de presse qui n'a pas été rédigé par Finyear.com.



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