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Powering faster payments: our investment in Form3

Author: Isabella Cookson

Posted on

Form3 has solved one of the most challenging problems the financial industry faces, sending and receiving payments in real time. Now, transactions that once took hours or days, can be processed in seconds. Whether buying foreign exchange, paying a taxi driver, booking a hotel room or moving millions between large companies, their system is fast, flexible, and safe. Form3 is transforming the future of payments.

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Established in 2016 and led by CEO Michael Mueller, Form3 enables banks and regulated fintechs a faster, more agile way to deliver payments, keeping up with cybersecurity challenges and helps the end customer recieve an improved service. This latest funding will be used to build on the momentum that Form3 has established in the UK and Europe, developing additional services and expanding into international markets. The business also plans to grow the organisation to build on the successes it has already achieved with customers across multiple sectors including banks, payment institutions, card payment processors, and the fintech community.

Instead of building their own technology on site, leading banks and fintechs are now building platforms which assemble best in class applications such as Form3. By integrating these applications, through APIs and using cloud infrastructure, these companies can build new products faster to focus on customer needs. Despite the financial services industries slower adoption of platform technology, it’s a development which we believe is here to stay.

Form3 is the latest cloud technology provider to join our portfolio, building on our other FinTech investments in Transferwise, Revolut, Crowdcube, and Seedrs.

We are delighted to welcome Form3 to the Draper Clan.