Company Research Report: Form3

Company Overview

• Name: Form3

• Mission: To revolutionize the world of payment processing and disrupt the traditional payment infrastructure model with a cloud-native, always-on, Payments-as-a-Service platform.

• Founded: 2016

• Founders: Four banking and technology leaders with a vision for modern payments infrastructure.

• Key People:

• Mike Walters, CEO

• Anil Arora, Non-Executive Director

• Matt Tuck, Chief Commercial Officer

• Benyam Hagos, Chief Financial Officer

• Headquarters: No information available

• Number of Employees: No information available

• Revenue: No information available

• Known For: An enterprise-grade payment technology platform that uses microservices to facilitate real-time account-to-account payments, trusted by major banks and fintechs worldwide.

Products

Payment Platform

• Description: An enterprise-grade, cloud-native payment technology platform designed to be scalable, adaptable, and resilient.

• Key Features:

• Cloud-based with microservices architecture

• High scalability and adaptability

• Built-in monitoring, alerting, and reporting

• Insulation from regulatory changes and payment scheme updates

• Single API that provides seamless connectivity to global payment schemes

Confirmation of Payee Requester Service

• Description: Supports account verification to reduce fraud in the UK.

• Key Features:

• Fast and secure account verification

• Reduces payment misdirection

• Increases fraud detection capability

Recent Developments

Funding and Growth

• Form3 recently completed a $60 million Series C extension funding led by British Patient Capital and supported by Visa and other existing shareholders. This funding will support the development of new products and services aimed at markets in the UK, Europe, and the US.

• Form3 has been included in the 2024 Lazard T100 Index and listed in the 2024 Top 100 Scale-ups in Europe, signaling recognition of its growth and innovation.

Partnerships

• Klarna: Form3 provides SEPA connectivity to bolster Klarna's offering in Europe as part of its international expansion strategy.

• Currencycloud: Partnership to enhance fraud detection in the UK with the Confirmation of Payee solution.

• Thought Machine: Collaborating to integrate FedNow, TCH RTP and SEPA Instant Credit Transfer into Thought Machine’s payment platform, ensuring robust real-time payment solutions.

Technological Advancements

• Form3 has launched an APP fraud prevention solution using fully supervised machine learning, capable of real-time risk assessment during payment transactions.

Awards and Recognition

• Form3 received multiple accolades in 2024, including:

• PayTech of the Year and Team of the Year at the UK Fintech Awards

• Best Scam/APP Prevention Innovation at the Datos Insights Impact Awards

• Ranked among the top fintechs by Sifted and Fintech 50

Conclusion

Form3 has positioned itself as a leader and innovator in the payment processing sector, with a strong cloud-native solution that appeals to banks and financial institutions seeking scalability and reliability. Through strategic partnerships and continual investment, Form3 is set to expand further into critical markets in Europe and North America, leveraging its advanced technology to meet the ever-evolving needs of modern financial services.