Curve’s crowdfunding mission exploded across the internet this week and, boy, did it create a frenzy, in just five minutes Curve had raised their original target of £1m, in 42 minutes they had reached £4m and in 5 hours they had achieved an impressive £6m, all records for crowdcube, the crowdfunding platform from which they coordinated their assault on the nation’s wallets.
So how did Curve get 9,591 investors to part with their cash so eagerly?
Curve’s ‘beyond banking’ proposition has undoubted appeal – they enable users to bring all their accounts into one app, lock and unlock their cards and spend abroad fee-free. There’s super-cool branding, exceptional user-experience and of course, mandatory for any fintech worth their salt, a metal card.
But more than that, Curve has created something that many want to be part of, they’ve created momentum and inspired people to become their customers and advocates. Since they burst onto the scene just last year, they’ve raised over £60m and grown their customer base to 500,000 (with ambitions to reach 1m by the end of the year).
The #CurveExperiences brand campaign, where the curve card was front and centre of pictures from around the world, provided the perfect warm up to the crowdfunding and ensured Curve was popping up all over everyone’s feeds. The media were also kept well briefed on the launch of Curve’s ‘first ever crowdfunding campaign’ offering eligible customers a chance to invest in and own a part of ‘Europe’s hottest fintech start up’.
Eligible Curve customers who pre-registered before September were granted exclusive early access to invest, there were Curve Crowdfunding events and live updates on funding progress, as well as engagement with new investors across Instagram Stories and other social platforms – all coming together to create a real buzz.
The future profitability of Fintech start-ups remains to be seen, but one thing is for certain, this was an excellent example of creating anticipation and excitement around a launch and perhaps this focus on brand loyalty and creation of brand advocates will pay dividends for Curve in future.
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