UK-based payment technology producer Form3 closed a $33m funding round yesterday that included financial services firms Lloyds Banking Group and Nationwide Building Society.
Venture capital firm Draper Esprit also took part in the round. It had already led the company’s $13m series B round in late 2018, investing together with banking group Barclays, Angel Co-Fund and various individuals.
Founded in 2016, Form3 has built a cloud software platform that helps banks and other financial services providers process, clear and settle payments on behalf of their customers in real time. Lloyds participated in the series B round in connection with a strategic partnership agreement.
John Chambers, Lloyds Banking Group’s chief information officer, said: “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.”
The series B round had come after Form3 raised $5m in series A funding from Barclays, Angel Co-Fund, undisclosed angel investors and unnamed existing backers in 2017.
