FinTech Open Payments raises €3 million to support continued growth

Stockholm-based FinTech system Open Payments has actually increased EUR3 million in a financing round to sustain their ongoing development, make it possible for item growth, and breakthrough its goal to streamline and boost B2B repayments throughout Europe.

The financing round was led by Alfvén & Didrikson, with involvement from Industrifonden and various other existing capitalists.

“ We created Open Repayments to streamline financial combinations by accumulating numerous financial institution APIs right into one solitary API,” states Louise Brandt, Chief Executive Officer and Creator of Open Repayments. “ This method makes it possible for services to introduce and enhance their economic procedures in manner ins which weren’t feasible prior to“

Open up Repayments was established in 2017 by Jonas Kjellin, Louise Brandt, and Per Westin to resolve the intricacy and ineffectiveness services encounter when incorporating numerous financial solutions right into their systems, a procedure that Open up Repayments states is frequently tormented by mistakes, high expenses, and taxing initiatives.

Given that its 2023 financing round, Open up Repayments has actually functioned to seal its placement as the leading Open Financial system for B2B repayments. It is relied on by ERP systems, treasury systems, and audit companies, consisting of Display ERP, Treasury Solution, Juni Technologies, Bjorn Lunden, and Speedledger.

The system integrates Open Financial API links with ISO-based repayment combinations, allowing smooth monitoring of residential and cross-border repayments, account settlement, and money monitoring– done in one area. By installing these capabilities right into services’ ERP systems, repayment companies, and various other economic applications, Open up Repayments enhances economic procedures and boost effectiveness.

Improved the concepts of the PSD2 regulation, Open up Repayments’ system makes certain conformity and safety and security at every degree.

According to Open Up Repayments, in 2024 they tripled their deal quantities, increased income, and attained complete insurance coverage of the Dutch B2B financial landscape, laying the structure for more comprehensive European development.

Current item launches consist of cross-border repayment capacities providing reduced currency exchange rate, real-time accessibility to prices for structured accounting, and same-day negotiations installed straight in the economic systems.

“ Our capacity to incorporate Open Financial and ISO combinations in one API is what establishes us apart,” includes Louise Brandt “ We encourage our consumers to puncture intricacy, conserve time, and concentrate on what issues most. With this brand-new financing, we’re thrilled to increase technology and proceed forming the future of B2B repayments“

“ Our company believe open financial has terrific possible in the B2B context and we see Open up Repayments as the marketplace leader in the Nordics, especially in the ERP section,” states Måns Alfvén, Companion at Alfvén & Didrikson. “ We are extremely excited by Open Repayments’ group and we’re enjoyed sustain their trip and assist them range to brand-new elevations“

Alfvén & Didrikson, along with Industrifonden, will certainly end up being the biggest investors in the business. Various other existing proprietors consist of Sony Financial Ventures, Global Mind, Luminar Ventures and Brightly Ventures. Together with this, Emil Ahlanzberg, Financial Investment Partner at Alfvén & Didrikson, will certainly sign up with the Open Repayments board.

Louise Brandt even more includes: “ We are extremely delighted to invite Alfvén & Didrikson, a suitable companion for us offered their experience and tried and tested performance history of effective financial investments in fintech, exhibited by firms like Trustly, Kleer, and Transfer Galaxy“

The deal undergoes regulative authorization by the SFSA.

The article FinTech Open Payments raises €3 million to support continued growth showed up initially on EU-Startups.