UK-based cloud payment technology provider Form3 has raised $13m in a series B round that featured financial services firm Barclays and was led by venture capital firm Draper Esprit.
Venture capital fund Angel Co-Fund and assorted angel investors also took part in the round, which increased Form3’s total funding to $18m.
Form3 has created a cloud-based platform that provides regulated financial institutions, such as banks and fintech developers, with payment processing, clearing and settlement services.
The company will use the funding to create additional services and expand into international markets.
In July 2017, Form3 raised $5m in a series A round led by Barclays and with participation from Angel Co-Fund.
Michael Mueller, founder and CEO of Form3, said: “We are really pleased with the support we have received in this funding round which reflects both the long-term potential of the business and our track record of successfully delivering high quality services for our customers.
“Our mission remains clearly focused on lowering the barriers for better access to payment systems and, in doing so, powering the future of payments.”