Form3 raises $33 million in strategic investment round with new investors Lloyds Banking Group, Nationwide Building Society and VC 83North

Share this post

Form3, the leading cloud-native payment technology provider for banks and regulated fintechs is moving into its next phase of growth and development with the completion of a strategic equity investment round of $33m. Following its Series B funding round in November 2018, Form3 has trebled in size and increased its annual recurring revenue by 160%.

The new shareholders include Lloyds Banking Group, Nationwide Building Society and venture capital firm; 83North. Draper Esprit has also re-invested following its participation in November 2018.

Form3 is also delighted to welcome Penny Hughes CBE to the Form3 Board as a Non-Executive Director. Penny has been a Director at well-known brands including Coca-Cola, Vodafone and Reuters and more recently a Non-Executive Director at RBS and Chair of Aston Martin.

Form3’s cloud-native, API platform delivers technical connectivity and managed services to address critical payments infrastructure challenges facing banks and Fintechs globally.  The funding will strengthen Form3’s market leading cloud-native payment technology, building significant functional enhancements and accelerating their global expansion plans in existing and new markets.

The new shareholders join existing investors Angel Co-Fund and Barclays.

Michael Mueller, Chief Executive Officer at Form3 said, “Our latest equity round is a testament to our growth and maturity in delivering highly secure, best in class technology for major financial institutions globally. Since our inception, our goal is to lead the field in cloud-native payment technology innovation that delivers a flexible, low risk, highly resilient and efficient alternative to legacy payments infrastructure. The big trend is that cloud-native solutions are now becoming part of almost every core strategy for managing mission critical infrastructure among Tier1 banks and Fintechs and we are here to help them implement that.
Together with our supportive shareholders, Form3 is reshaping payments technology to the next evolution of real-time payment processing without borders.”

Form3 has shown strong results with clear momentum. In the last year they;

  • Increased annual recurring revenue by 160%
  • Grew from 50 to 140 people in 14 countries
  • Expanded in Europe with a regional Amsterdam hub

John Chambers, Group Chief Information Officer at Lloyds Banking Group commented, “As part of our ongoing digital transformation we are committed to providing banking services that are simple and easy to use.  Our new strategic partnership, alongside the additional investment announced today, will provide us with the opportunity to implement a cloud native, real-time payment platform to meet our customers’ evolving needs.”

Claire Tracey, Chief Strategy and Sustainability Officer, Nationwide Building Society said; “We are delighted to invest in Form3 as part of our ongoing venturing programme. Our members complete billions of transactions each year, and we are always looking for ways to help improve the process making it simpler, safer and easier for them. We look forward to working with Form3 as we continue to explore technology which will help us develop even more payment functionality for our 16 million members in the future.”

Ends

—-

Watch the video on Vimeo: https://vimeo.com/447765475

For further press information please contact:

Media Relations

Form3: Laura Francis, Head of Brand and Marketing Communications
laura.francis@form3.tech

About Form3
In 2016, four banking and technology leaders set out to revolutionise the world of payments processing.  Form3 has disrupted the traditional payments infrastructure model and built from scratch an award-winning, cloud-native, Payments-as-a-Service platform. Today, Form3 is trusted by some of UK and Europe’s biggest Tier1 banks and fast-growing Fintechs to handle their critical payments architecture.
Form3 has been ranked in the Top European Fintechs to watch by Sifted 2020 and Fintech 50  2019 and named as the Best Digital Innovation by Bobsguide 2019 and runner up in British Bank Awards for Best Technology Partner 2020.

More To Explore

Membership

Are you a member of The Payments Association?

Member benefits include free tickets, discounts to more tickets, elevated brand visibility and more. Sign in to book tickets and find out more.

Welcome

Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.

Having trouble signing?

We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.

First things first

Have you set up your Member account yet? If not, click here to do so.

Still not receiving your auto-login link?

Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.

Please click the button below which relates to the issue you’re having.

I didn't receive an e-mail

Tip: Check your spam

Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association

Tip: Check “other” tabs

Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.

Tip: Click the link within 60 minutes

For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.

Tip: Only click once

The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.

Tip: Delete old login e-mails

Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.

Tip: Check your security policies

Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.

Need to change your e-mail address?

For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.

Still got a question?