Lloyds Banking Group and Nationwide join $33 million investment round in payments fintech Form3

Form3, the cloud-based payment technology provider, has completed an equity investment round of $33 million.

The new shareholders include Lloyds Banking GroupNationwide Building Society and venture capital firm 83NorthDraper Esprit has also re-invested following its previous participation in November 2018. The new shareholders join existing investors Angel Co-Fund and Barclays.

“We are delighted to invest in Form3 as part of our ongoing venturing programme. Our members complete billions of transactions each year, and we are always looking for ways to help improve the process making it simpler, safer and easier for them. We look forward to working with Form3,” said Claire Tracey, Chief Strategy and Sustainability Officer at Nationwide.

Form3 has also added Penny Hughes CBE to its board as a Non-Executive Director. Penny has been a Director at well-known brands including Coca-Cola, Vodafone and Reuters and more recently a Non-Executive Director at RBS and Chair of Aston Martin.

“The big trend is that cloud-native solutions are now becoming part of almost every core strategy for managing mission-critical infrastructure among Tier1 banks and fintechs and we are here to help them implement that,” said Michael Mueller, Chief Executive Officer at Form3.