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British Patient Capital Invests £10m in Form3

Press release 10 September 2024

British Patient Capital has made a £10m investment into Form3, a leading British payment technology company.

Form3 enables major banks and other financial institutions to accelerate their digital transformation and connect to multiple payment schemes via a single scalable platform. Its offering replaces strained legacy software with a robust cloud-native infrastructure that is optimised for real-time payments.

The investment is part of Form3’s Series C extension and will see British Patient Capital join existing investors including Visa and Molten amongst others.

The funding will enable Form3 to continue to scale, develop new products and services, and expand into new territories.

Form3 has built a leading solution for a challenge that banks worldwide are facing: how to transition to a modern, future-proof payments infrastructure. We are delighted to support them as they take the next steps in their growth journey. - Tom Haywood Managing Director, Direct Investments, British Patient Capital
British Patient Capital’s investment enables Form3 to continue to deliver mission-critical infrastructure technology for the world’s most established banks and financial institutions. - Benyam Hagos Chief Financial Officer, Form3

Further Information

Notes to editors

About British Patient Capital

British Patient Capital Limited is a wholly owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large-scale businesses. Launched in June 2018, British Patient Capital has more than £3bn of assets under management, investing in venture and venture growth capital to support high growth potential innovative UK businesses in accessing the long-term financing they require to scale up. Find out more here.

British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.

British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.

The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc, its subsidiaries or any other party in respect of Form3.

About Form3

Form3 is the account-to-account platform. Founded In 2016, Form3 set out to revolutionise the world of payment processing and disrupt the traditional payment infrastructure model, with an always on, cloud-native, Payments-as-a-Service platform. Today, Form3 is trusted by some of the UK’s and Europe’s biggest Tier1 banks and fastest-growing fintechs to handle their critical payments architecture. Form3 has been included in the 2024 Lazard T100 Index and was listed in the 2024 Top 100 Scale-ups in Europe. The company has also been awarded PayTech of the Year and Team of the Year for Form3’s Engineering Team at the UK Fintech Awards 2024, Team of the Year at the Paytech Awards 2024, Engineering Team of the Year at the Europe Fintech Awards 2024 and Best Scam/APP Prevention Innovation at the Datos Insights Impact Awards 2024.

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