Form3 has completed an extension of the $60 million Series C funding round.
The mentioned company intends to use the investment to develop new products and services. Form3 will also direct part of this funding to support the growth of its account-to-account (A2A) cloud platform in the United States, Europe, and the United Kingdom.
The company announced that British Patient Capital is joining the group of its existing strategic and financial investors, which includes the payment industry giant Visa. The relevant information is contained in the Form3 press release, which was published this week.
Benyam Hagos, chief financial officer of the company, says that the investments received from British Patient Capital allow the firm to continue to provide the most established banks and financial institutions in the world with critical infrastructure technologies.
Tom Haywood, managing director of direct investments at British Patient Capital, stated that Form3 has developed an advanced solution to deal with the global challenge facing lenders. In this case, it implies a transition to a modern payment infrastructure focused on the future. Tom Haywood also stated that British Patient Capital is delighted to support Form3 when it makes the next moves on the growth path.
About Visa’s investments in Form3 it became known in September last year. At that time, the companies announced that their collaboration would combine Form3’s financial crimes orchestration service with Visa’s deep-learning artificial intelligence and real-time risk scoring. In this case, the goal is to help clients of financial institutions manage risks when sending and receiving A2A payment transactions in real-time.
As we have reported earlier, Conversational Commerce Startup Connectly Raises $20 Million.
