#Payments / Form3 gains investment from major UK banks

Among the new investors and shareholders are Lloyds Banking Group, Nationwide Building Society and venture capital firm 83North… [they] join existing investors Angel Co-Fund and Barclays.

Form3 claims to have trebled in size and increased its recurring revenue by 160% since its 2018 Series B funding.

[CEO:] “The big trend is that cloud-native solutions are now becoming part of almost every core strategy for managing mission critical infrastructure… Form3 is reshaping payments technology to the next evolution of real-time payment processing without borders.”

John Chambers, chief information officer at Lloyds Banking Group, says the investment is part of an “ongoing” digital transformation.