In a significant boost to its growth strategy, Form3, a leading cloud-native account-to-account payments platform, has successfully completed a $60 million Series C extension funding round. The latest investment, which includes a notable contribution from British Patient Capital, aims to drive the company's expansion into new markets and enhance its product offerings.

Investment Details

British Patient Capital, a key new investor, has injected £10 million into Form3 as part of this Series C extension. This infusion of capital is expected to support Form3’s continued development of innovative products and services, as well as its geographical expansion into key markets such as the UK, Europe, and the US. Existing investors in Form3, including Visa, have also participated in this funding round, underscoring the confidence the investment community has in Form3’s growth trajectory.

Strategic Importance

The investment comes at a crucial time for Form3, as the company seeks to solidify its position as a leader in the payments infrastructure sector. Form3’s cloud-native platform is designed to modernize and streamline payment processes for banks and financial institutions worldwide. By replacing outdated legacy systems with a robust, scalable infrastructure optimized for real-time payments, Form3 is addressing a critical challenge faced by financial institutions today.

Benyam Hagos, CFO of Form3, emphasized the importance of this investment for the company’s mission. “British Patient Capital’s investment enables Form3 to continue delivering mission-critical infrastructure technology for some of the world’s most established banks and financial institutions,” Hagos stated.

British Patient Capital’s Role

British Patient Capital, a commercial subsidiary of British Business Bank plc, is dedicated to fostering long-term investments in high-growth, innovative firms. With over £3 billion in assets under management, British Patient Capital focuses on supporting businesses that have the potential to scale significantly. Tom Haywood, Managing Director at British Patient Capital, highlighted the strategic alignment between Form3’s goals and the firm’s mission. “Form3 has built a leading solution for a challenge that banks worldwide are facing: how to transition to a modern, future-proof payments infrastructure. We are delighted to support them as they take the next steps in their growth journey,” Haywood said.

Company Overview

Founded in 2016, Form3 has made substantial strides in transforming payment processing. The company’s platform offers a modern, cloud-native Payments-as-a-Service solution that integrates seamlessly across various payment schemes. Trusted by major banks and fintechs across Europe, Form3 has received numerous accolades, including being listed in the 2024 Lazard T100 Index and winning awards for PayTech of the Year and Engineering Team of the Year.

Form3’s successful Series C extension, bolstered by a significant investment from British Patient Capital, marks a pivotal moment in the company’s expansion journey. This funding will not only support Form3’s growth and product development but also reinforce its position as a transformative player in the global payments infrastructure landscape. As Form3 continues to innovate and expand, it remains well-positioned to lead the way in modernizing payment systems for financial institutions around the world.