The founder of FinTech Curve believes the company is on the path to profitability.
In brief:
- Founded in 2015, Curve has raised more than £200mn in funding, with its latest round in September adding £58mn.
- The company posted a loss of £22.2mn in 2022, a sharp fall from the £52.3mn the year prior.
- The company said it grew its number of users by one million in 2022 and new customers paying a subscription fee went from 2.2% in January to 27% in December.
What does this mean?
Curve founder Shachar Bialick said that the company “has a strong potential to achieve profitability for 2024”. Bialick said the company was forced by the “challenging” economic backdrop of last year to “deprioritise growth” in favour of profitability, which meant cost reduction in the form of, among other measures, layoffs.
