INSUBCONTINENT EXCLUSIVE:
Image copyrightHermioneImage caption
Shachar Bialick aims for Curve to become a $50bn to $60bn business
The TheIndianSubcontinent's weekly The Boss series profiles different business leaders from around the world
This week we speak to Shachar Bialick, founder of fintech company Curve.As Shachar Bialick route marched through the surf, his body was
aching so much he didn't think he could continue.The then 18-year-old was doing his initial training for the Israeli special forces
He and the other new recruits had to march for 40km (24 miles), while carrying 40kg on their backs
If that wasn't bad enough, they were making their way along the coast, and had to walk through the sea up to a depth of at least 40cm."You
can imagine how difficult it was," says the 38-year-old looking back
"After the first 10km I thought there is no way I can continue
Then after you finish the 40km you feel dead, but then you think 'OK I can do that'
It gives you the mindset that everything is possible."The life of an Israeli special forces soldier may seem a million miles away from the
world of business, but Shachar says that the three years he served gave him the determination to succeed in his subsequent career as a
"It gave me grit and perseverance, which are clear factors for success in business."Image copyrightShachar BialickImage caption
Shacha (pictured on the left) spent three years in the special forces
Today Shachar is the founder and boss of a
London-based fintech company called Curve
This gives users a bank card and app that consolidates all their banking cards and accounts in one place
So instead of having to carry round a wallet full of different cards, you can just use your Curve one.It sounds like an idea that would
appeal to many people, and Shachar has grand plans for the business he launched back in 2016
obviously a very bold aim, but Curve's early investors are showing their confidence in Shachar
Back in July, the company secured $55m of new funding that values it at $250m.Born in Tel Aviv, Israel's second-largest city, Shachar was
brought up in the settlement city of Ariel, in the occupied West Bank.Disruptive at school, but gifted with computers, at 16 he was pulled
from his class and sent to study computer science at a university in Tel Aviv
Two years later he had to do his compulsory military service
After leaving the army Shachar successfully founded and then sold a string of companies, including a door and windows business, and a
He also made time to get the top master of business administration qualification.Image copyrightCurveImage caption
Curve
allows users to just need one bank card
Despite having money in the bank from his earlier business career, before he
launched Curve when he was 36, Shachar says that both his father-in-law and his wife were wondering if he was going to settle on one
company."I had an intervention [from my father-in-law]," he says
"He said 'what are you going to do with our life? You can't waste your talent You won't work for anyone else alright, go for it."Meanwhile,
his wife was concerned that it could impact on their relationship, as she knew he would dedicate all his time to it
Thankfully, Shachar says that his wife, and both her parents and his, remain "very supportive".More The Boss features:While he could have
based the business in Israel, he says he chose London for a number of reasons, including its long-standing positions as a global capital of
finance, and the access to a large number of talented employees.Curve now has more than 500,000 users across 31 European countries, and over
Expansion into the US is due to follow next year
It makes its money from the banking charges retailers pay, the monthly subscription fee for its premium card, and selling other banking
services.Image copyrightCurveImage caption
Shachar chose London for Curve's head office, rather than a city in Israel
Fintech author and commentator Chris Skinner says that Curve is proving to be increasingly popular."Like many UK fintech
start-ups, Curve came up with an idea that is unique," he says
"Consolidating all of your credit and debit cards onto a single app and single card has proven to be a compelling proposition."Curve's
vision, along with many other UK fintech start-up firms, is the reason why Britain has more early stage financial technology firms valued in
the millions and billions of dollars than any other place in the world, including Silicon Valley."As Curve continues to grow, Shachar says
he remains thankful for his military service all those years ago."When I was 18 I was very naive about life, very lackadaisical," he says
"And they [the Israeli Defence Forces] break you
They change your character, and how you think about it."So many times in life you see the end in front of you, but you want to give up
I was taught to keep on going, to try, try and try
If you believe, you create your own reality."
