Volt, an open payments gateway, has scored $23.5m in its Series A round, which will help it expand into new countries.
The Series A investment, which Volt claims to be the largest for the open banking industry, was led by EQT Ventures. Previous Volt backers Augmentum Fintech PLC and Fuel Ventures also committed capital to the round.
Several angel investors also contributed to the round, including Adyen co-founder Robert Kraal and FIS Worldpay Group president Gabriel de Montessus.
In addition to expanding its footprint, funds will be used to deepen its instant payments offering.
Founded in 2019, the company offers easy access to open banking payments in Europe, connecting more than 5,000 banks across the UK and EU. Merchants and payment service providers can use the platform to prioritise instant payments, with the platform supporting 58 countries.
Volt CEO Tom Greenwood said, “Instant payments are set to dominate the global payments landscape and will become the new normal. It’s an exciting time to be in payments, and we are delighted to have secured such a significant funding round, and the backing of an influential group of investors. We look forward to working with our new partners at EQT Ventures as we build out our global vision.”
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