Curve and SMEs

At Curve we don’t stop – prepping America launch, Curve Credit beta rollout, and now plans to transform the way SMEs use fintech.

Small business are the backbone of every economy and COVID has left many facing tough decisions. To support them we knew we could bring the Curve way of making money work better for everyone to create tools that tackle existing challenges and support SMEs them to grow.

To help do this we’ve applied for a £10 million grant from the BCR Capability and Innovation Fund. The BCR was set up after the 2008 financial crisis as a way of giving back following the taxpayer bailout of RBS. The main aim of the BCR is to increase competition among providers of financial services to SMEs.

If we win the grant, we’ll match fund it with our own cash and create 75 new fulltime jobs in the process, including 20 for people at the very start of their fintech careers - the future fintech leaders!

What products are we planning?

Curve Cast 

SMEs will be able to share access to their company card with staff without sharing any sensitive information like the card number. Of course, there will be spending limits and controls, and the company will always have full visibility of the activity on the card. 

Curve Credit-SME

Expenses charged to any company credit or debit card, or an overdraft, will prompt an automated notification to allow a user to access the best available financing. That means urgent spending can be retrospectively financed via short term loans instead of emergency credit.

The grant pool Curve applied for is there to foster new services that better serve the needs of SMEs in the UK. That’s why we applied – we knew SMEs were facing significant challenges and that we could use our products to help them tackle issues like access to working capital, the inflexibility of short-term credit, payment fraud, to name just a few. Those problems have not been made any easier during the coronavirus pandemic and at Curve we are determined to try and help.

Our mission’s always been clear – simplify and unify how people use money – that includes businesses. Small firms are a collective powerhouse and deserve the best solutions available, we’re on a mission to provide them.

Let’s go SMEs!