VCs in £33m round for Form3

Draper is currently investing from its debut venture fund, which closed on £176m in May 2018, while 83 North is investing from its fifth-generation fund, which closed on $300m in October 2019.

Additionally, Lloyds Banking Group and Nationwide contributed to the funding round as new investors, while existing investors Angel Co-Fund and Barclays also participated.

Lloyds has taken on Form3 to provide support for enhanced data and new overlay services, and to create the base platform for the UK's New Payment Architecture initiative.

Previous funding
Barclays and Angel CoFund took part in a $5m series-A funding round for Form3 in July 2017.

Draper Esprit led a $13m series-B funding round for Form3 in November 2018. Existing investors Barclays Bank and Angel CoFund also took part in the round, alongside high-net-worth individuals.

Company
Founded in 2016 and headquartered in London, Form3 develops payment processing software for banks and regulated financial technology companies. Its customers include Ebury, Tandem Bank, LHV Bank and MyPOS.

People
Form3 – Michael Mueller (CEO).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Draper Esprit