Open Payments Secures €3M to Fuel European Expansion
January 24, 2025, 3:37 am
Location: Sweden, Stockholm
Employees: 11-50
Founded date: 2017
Total raised: $11.29M
In the bustling world of fintech, innovation is the lifeblood. Open Payments, a Swedish company, has just secured €3 million in funding. This financial boost comes from a round led by Alfvén & Didrikson, with support from Industrifonden and other existing investors. The deal is pending regulatory approval from the Swedish Financial Supervisory Authority (SFSA).
Open Payments is not just another player in the fintech arena. It’s a pioneer in open banking, a realm where financial services become seamless and interconnected. Their platform is designed specifically for B2B payments, combining Open Banking API connections with ISO-based payment integrations. This integration allows businesses to manage domestic and cross-border payments, account reconciliation, and cash management—all from a single platform.
Imagine a toolbox where every tool fits perfectly. That’s what Open Payments offers. By embedding their functionalities into businesses’ ERP systems, payment providers, and other financial applications, they streamline financial operations. Efficiency is the name of the game, and Open Payments is winning.
The company is led by CEO and Founder Louise Brandt. Under her guidance, Open Payments has made significant strides. In 2024, they achieved full coverage of the Dutch B2B banking landscape. This accomplishment lays the groundwork for broader European expansion. With the new funding, they aim to accelerate this growth and enhance product development.
Recent product launches are noteworthy. Open Payments now offers cross-border payment capabilities with lower exchange rates. They provide real-time access to rates, making bookkeeping a breeze. Same-day settlements are also embedded directly into financial systems. This level of integration is revolutionary. It transforms how businesses handle their finances.
The company’s platform is built on the principles of the PSD2 directive. This ensures compliance and security at every level. In a world where data breaches are common, this commitment to security is crucial. Businesses can trust Open Payments to safeguard their financial transactions.
Their client roster is impressive. Open Payments collaborates with ERP systems, treasury systems, and accounting providers. Notable names include Monitor ERP, Treasury Systems, Juni Technologies, Bjorn Lunden, and Speedledger. These partnerships enhance the platform’s reach and functionality.
The funding round positions Alfvén & Didrikson and Industrifonden as the largest shareholders in Open Payments. Other existing investors include Sony Financial Ventures, Global Brain, Luminar Ventures, and Brightly Ventures. This diverse group of backers underscores the confidence in Open Payments’ vision and potential.
Open Payments is not just a company; it’s a movement. The open banking landscape is evolving, and they are at the forefront. Their approach simplifies banking integrations by aggregating multiple bank APIs into one single API. This innovation allows businesses to innovate and improve their financial operations in ways that were previously unimaginable.
The potential of open banking in the B2B context is vast. Open Payments stands as a market leader in the Nordics, particularly in the ERP segment. Their success story is a testament to the power of innovation and strategic partnerships.
As they prepare for the next chapter, the future looks bright. The funding will enable Open Payments to expand further across Europe. They are poised to tap into new markets and offer their groundbreaking solutions to a wider audience.
In conclusion, Open Payments is more than just a fintech company. It’s a catalyst for change in the financial landscape. With €3 million in fresh funding, they are ready to soar. The open banking revolution is here, and Open Payments is leading the charge. As they continue to innovate and expand, businesses can expect a new era of financial efficiency and security. The road ahead is promising, and Open Payments is driving the future of B2B payments.
Open Payments is not just another player in the fintech arena. It’s a pioneer in open banking, a realm where financial services become seamless and interconnected. Their platform is designed specifically for B2B payments, combining Open Banking API connections with ISO-based payment integrations. This integration allows businesses to manage domestic and cross-border payments, account reconciliation, and cash management—all from a single platform.
Imagine a toolbox where every tool fits perfectly. That’s what Open Payments offers. By embedding their functionalities into businesses’ ERP systems, payment providers, and other financial applications, they streamline financial operations. Efficiency is the name of the game, and Open Payments is winning.
The company is led by CEO and Founder Louise Brandt. Under her guidance, Open Payments has made significant strides. In 2024, they achieved full coverage of the Dutch B2B banking landscape. This accomplishment lays the groundwork for broader European expansion. With the new funding, they aim to accelerate this growth and enhance product development.
Recent product launches are noteworthy. Open Payments now offers cross-border payment capabilities with lower exchange rates. They provide real-time access to rates, making bookkeeping a breeze. Same-day settlements are also embedded directly into financial systems. This level of integration is revolutionary. It transforms how businesses handle their finances.
The company’s platform is built on the principles of the PSD2 directive. This ensures compliance and security at every level. In a world where data breaches are common, this commitment to security is crucial. Businesses can trust Open Payments to safeguard their financial transactions.
Their client roster is impressive. Open Payments collaborates with ERP systems, treasury systems, and accounting providers. Notable names include Monitor ERP, Treasury Systems, Juni Technologies, Bjorn Lunden, and Speedledger. These partnerships enhance the platform’s reach and functionality.
The funding round positions Alfvén & Didrikson and Industrifonden as the largest shareholders in Open Payments. Other existing investors include Sony Financial Ventures, Global Brain, Luminar Ventures, and Brightly Ventures. This diverse group of backers underscores the confidence in Open Payments’ vision and potential.
Open Payments is not just a company; it’s a movement. The open banking landscape is evolving, and they are at the forefront. Their approach simplifies banking integrations by aggregating multiple bank APIs into one single API. This innovation allows businesses to innovate and improve their financial operations in ways that were previously unimaginable.
The potential of open banking in the B2B context is vast. Open Payments stands as a market leader in the Nordics, particularly in the ERP segment. Their success story is a testament to the power of innovation and strategic partnerships.
As they prepare for the next chapter, the future looks bright. The funding will enable Open Payments to expand further across Europe. They are poised to tap into new markets and offer their groundbreaking solutions to a wider audience.
In conclusion, Open Payments is more than just a fintech company. It’s a catalyst for change in the financial landscape. With €3 million in fresh funding, they are ready to soar. The open banking revolution is here, and Open Payments is leading the charge. As they continue to innovate and expand, businesses can expect a new era of financial efficiency and security. The road ahead is promising, and Open Payments is driving the future of B2B payments.