Dutch payments company Payaut said to raise €1m in a funding round

Netherlands-based automated payments company Payaut has reportedly bagged €1m in a funding round.

The investment was supported by LocalGlobe, Finch Capital and several unnamed angel investors, according to a report from FinSMEs.

Despite having just closed this round, the FinTech is already in discussions about raising a seed round in a couple months’ time.

Payaut is an API solution that helps online marketplaces and platforms automate seller onboarding and payouts, and meet PSD2 compliance. Its services include onboarding and KYC, Split payments and payouts.

Earlier in the month, fellow Dutch FinTech Knab teamed up with biometrics company iProov. Challenger bank Knab will use iProov’s solution to provide its customers with biometric-powered authentication, giving them more security when making transactions.

Since 2015, FinTech companies based in the Netherlands have raised a combined total of $726.9m across 107 transactions between. Funding has grown at a CAGR of 46.8% during the period and the  average deal size has  increased by more than eight-fold from $1.6m in 2015 to $13.1m in 2019.

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