Shachar Bialick AMA - Get your questions in now!

When will Curve take Support seriously?
The bad customer support experience has been the biggest customer pain point for so long and seems nothing meaningful is been done to improve it nor is planned to… In your pitch, you talk about expanding, but unless Curve improves on the super crucial support front you will keep having dissatisfied customers. Yes signing up millions is really good, but losing them due to the bad support is just unbelievable…

There are many threads detailing problems such as Why we have stopped using Curve

Currently, as you should be aware, Curve Support is lacking:

  • there is no real-time chat or phone number customers can speak to
  • most customer emails are left unanswered,
  • even when there is a response that is after huge delays and it is unhelpful
  • there is no escalation nor proper complaint procedure.

Ultimately I would like to see Curve taking support seriously and committing to specific actions each with a due date. Series C and crowdfunding should be money well spent and support your priority!

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Could you provide last 3 years financial statement and operation metrics ?

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Hi,
I invested in 2019 and am interested to do it again this round but I am in France.

Your disclaimer says : “This crowdfunding is not directed at or addressed to retail investors in Belgium, France, Germany or The Netherlands. Curve cannot guarantee that interested retail investors from Belgium, France, Germany and The Netherlands will be able to invest due to local restrictions on offering securities”. Silly question : can I invest this round ?
Thanks,
Mat

I have been with Curve since January 2019, invested during the previous Crowdfund and remember when Amex was included, albeit for a couple of hours before it was dramatically dropped from the offering. At the time there was an extremely strong commitment from everyone at Curve to re-instate Amex rapidly. I’m sure you don’t need me to tell you that it is now 2 years+ later and there is no sign of any re-instatement either from Curve or Amex (even after I contacted Amex’s UK General Manager directly followed by escalation to the worldwide Amex CEO to find out).
Could you please confirm clearly and openly, once and for all, when exactly we can expect to see Amex re-instated or whether we will never see Amex back in Curve again? If the latter, or an unreasonable (more than 6 months) further delay, please could you also state the merits to prospective investors, of another Crowdfunding exercise with such a large ongoing and unplugged gap in the Curve offering?

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Hi Shachar,

I live in France and was part of the first Crowdcube funding.

Can you clarify this : This webpage is not directed at or addressed to retail investors in Belgium, France or The Netherlands. Curve cannot guarantee that interested retail investors from Belgium, France and the Netherlands will be able to invest due to local restrictions on offering securities.

I’m still into the product and probably your best ambassador here in France :slight_smile:, I’d love to be part of that second round.

Thanks

@thsala @MatLY

Who can invest?

Anyone over the age of 18 from anywhere in the world. However, due to local laws and regulations, retail investors located in the USA, Canada and Japan will not be able to invest in this crowdfunding.
This crowdfunding is not directed at or addressed to retail investors in Belgium, France, Germany or The Netherlands. Local laws and regulations restrict our ability to offer securities generally to the public in these countries without publishing a prospectus (or another information document) which is approved by the local regulator. We have therefore decided that the crowdfunding will not be directed at, or addressed to, the public (including retail investors) in those countries generally. We may, however, be able to make a limited offer, to up to 150 investors from Belgium, France, Germany and Netherlands. So, whilst you may indicate your interest in investing once the crowdfunding goes live, Curve cannot guarantee that it will be able to make an offer of securities to you. We understand that this will be disappointing to our customers in those countries, and this is something we will consider for any future crowdfunding.
Note: Retail investors are individual investors (as opposed to institutional investors).

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What is the timeline for Curve to become profitable?
What do you expect split of Curve revenue between user fees/merchant fees/Credit/future products will be in the long run?

What is the timeline for Curve to go public?

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Thanks @poeliev. Still, those few words are totally vague. My question would be > will I be able to invest, yes or no. If the answer is no, I’d be curious to know what this “Local regulation” is.

Hi Shachar,

As a European investor, I am wondering what the impact of the new EU directive for online payments (3DS2/ PSD2) which came into force this year will be on card functionality for European customers?

Will there be transaction limit limitations?

How does Curve intend to implement PSD2 and comply with PSD2 for European transactions? (Given that Curve transactions are classified as online transactions)

Thanks again

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Hi,

I would like to know if you will be improving the current metal offerings and benefits?
Will the other levels have updates made to them as well?

As others have mentioned but the point needs hammering home repeatedly- this is fundamentally flawed until Amex is back online. 90% of my transactions are through my 2 Amex cards so this notion of a 1-card wallet is simply an idealist view until then. I dropped Metal and can’t support this till it’s resolved and ignoring the point won’t make it go away

Will there be any provision/compensation for those Curve customers who received their investor cards and metal benefits during the pandemic. For example, it was hardly possible to use the Lounge access and travel insurance benefits for the whole period (I received mine in June 2020), so is Curve considering any “carrying forward of benefits” once the restrictions on travel get lifted?

Hi Shachar, what have the Curve team considered in light of UN Sustainability and Development Goals? Do you have any initiatives to help with Social enterprise partnerships? how does Curve give back to those in need in the future? Could Social Enterprises get a Social Curve Card? Love the product, but would love to see more given back to those who need it most. Thanks.

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  • What is your monthly spend per active user?
  • What are the top 5 merchants users use their cards at (by spend)?
  • How do you define ‘active’ users, and how many do you have?
  • After ‘Not All Heroes Wear Pants’ and your NFT auction, do you have other charitable events lined up?
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I am an Italian investor. I have been using Curve for over 2 years and I must admit that your service is valid. But where do I find your balance sheet (at least the last two years) and the business plan of the commercial expansion project? Second question: for the expansion in the USA I believe it is essential to activate the relationship with AMEX, the reference operator on that market. In what times will it be done? Third question: how much is your revenue per user and what are the intentions to increase it? Fourth question: I have a lot of complaints about customer service from the forum. What actions have you planned in consideration of the potential increase in customers? Thank you very much, regards

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Hello,

I’d like to ask…

  • What is the Curve’s north star metric (ex: active users, number of transactions)? What is the current scenario for this metric and how do you expect to evolve in the next 2 years?If this metric is not directly related to revenue, explain to us how it is related to financial success.
  • What is Curve’s current NPS?

Can you share some additional details metric:
Monthly active user numbers
Average number of transactions per active user
Customer acquisition costs?

Could you add a benefit like free Black —> Metal upgrade for investors above a certain threshold, say 5000 £, for example? In this example the value of that dividend would be that’d be 5*12/5000 = 1.2% per year. That’d be a great extra incentive to invest and get paid some dividends in a tangible way!

Are there any plans to add SEPA transfers? It seems like a killer feature for Europe users.

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