Form 3, the cloud-based stage for universal payments processing, publicized a few weeks ago that it secured a whopping $13 million. It acquired the finances through its Series B funding round, which is run by startup capital firm, Draper Esprit plc. It managed to raise this amount with the participation of its existing shareholders including Barclays Bank plc, Angel CoFund, and many other individuals.
The cloud-based platform has been running since 2016 and specializes in offering complete end-to-end Payments as a Service for both regulated fintechs and commercial firms. Form 3 provides steady and safe cloud-based access as well as processing for FPS, BACS, CHAPS, SEPA, SEPA Instant and SWIFT without software or hardware requirements. Their services are robust and consistent and used by the top international financial institutions.
Form3 boasts of solving the issue of slow payment processing for banks and fintechs with their cloud-based technology that enables for sending and taking payments in real-time. The firm’s existing clients include N26, Ebury, LHV Bank, Tandem Bank, and myPOS.
What’s more, it has a powerful services architecture and API’s that offer a single point of hassle-free access to the universe of payment schemes. What’s more, the systems are protected with future tech at the point of delivery to ensure peace of mind. What clients get is a hassle-free and easy-to-use Payments as a Service.”
Form3 also stated that they would use this funding to further fuel Form3’s momentum in the UK and other parts of Europe by offering additional services and growing into global markets. The fintech also has ideas to expand the organization by making the most of the successes it has already earned with customers from nearly all sectors counting banks, card payment processors, payment institutions, card payment processors and the fintech space. Commenting on the latest funding round, the CEO and founder of Form 3, Michael Mueller, noted:
“We are much pleased with the level of support we’ve received in this round of funding which points to our long-term potential as well as our track record of providing high-quality services to all our customers. Now, our eyes remain focused on eliminating the barriers for easy access to payment systems and streamline the future of payments.”
Hopefully, Form 3 will achieve its objectives for next year with this round of funding and explore the international market and start serving bigger banks like lloyds bank cardnet pci dss.
Author Bio: Payment industry expert Taylor Cole is a passionate merchant account expert who understands the complicated world of accepting credit and debit cards at your business. His understanding of lloyds bank cardnet pci dss the industry has helped thousands of business owners save money and time.