Lithuanian FinTech Torus, a SaaS intelligence platform for banks and PayTechs, has received funding from Goose Valley Ventures (GVV), a FinTech-focused venture capital firm dedicated to startups in the Nordic and Baltic regions.
Torus, which has developed a platform addressing the $13bn challenge in transparency around fees charged by card schemes such as Visa and Mastercard, is set to benefit from this strategic investment.
The company’s innovative platform analyses, optimises, and predicts scheme fees, helping issuers, acquirers, and merchants improve their profitability in a low-margin, high-volume card payment market. With 10 customers and an ARR of $1m, Torus is already demonstrating strong growth and market demand for its solutions.
Goose Valley Ventures general partner Robin Egerot said, “We have tracked the company for almost a year now and finally had the opportunity to join their journey.
“Kirill and the team have built a truly cutting-edge platform, based on their unique insights to the problem and experience within card payments. This combined with a global market opportunity and the long-term vision makes us very excited to be part of the company”
Torus CEO and co-founder Kirill Lisitsyn echoed this enthusiasm, stating, “We’re experiencing a strong momentum and are eager to propel Torus to the next stage of growth. Goose Valley Ventures’ network and expertise in the industry is a great fit for us as we grow and continue our expansion.”
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