Kashimi raises $1.36m to expand payment infrastructure

September 11, 2025

Lithuanian startup Kashimi, a provider of alternative payment infrastructure for regulated financial institutions, has raised $1.36m in a pre-seed funding round.

The investment was co-led by Coinvest Capital and US-based Impellent Ventures, with additional backing from Plug and Play Tech Center and several international business angels, according to a report from Tech.eu. Coinvest Capital’s contribution amounted to $749,985.

Founded to simplify access to open banking rails, Kashimi operates as an infrastructure-as-a-service (IaaS) platform. Its single API allows businesses to integrate with hundreds of banks, enabling instant account-to-account (A2A) payments. The solution supports financial institutions such as banks, PSPs, lenders, digital asset wallets, remittance platforms, FX operators and treasury systems.

The fresh capital will fuel Kashimi’s expansion across the European and UK markets while accelerating its entry into the US, where the company began laying the groundwork in late 2024.

In addition to financial support, Kashimi has been accepted into Plug and Play Tech Center’s six-week GOAL programme, which will provide valuable exposure and experience in the US market.

Kashimi CEO and co-founder Benas Pavlauskas said, “Alternative payment methods, which started to appear in Europe and the UK following the introduction and implementation of Open Banking regulations seven years ago, are finally gaining momentum. Customers are increasingly accustomed to these solutions, and it is the right time for various financial institutions – banks, electronic money institutions, or others – to expand their merchant offerings. The US is introducing a similar concept and actively promoting the development.”

Impellent Ventures managing general partner Phil Beauregard said, “We think the crew is comprised of some of the most innovative and experienced thinkers and tinkerers in the space – and we can’t wait to see what they cook up in order to create value for their customers and stakeholders alike. Combined with being our first foray with Coinvest Capital, we couldn’t be more amped up for the future of this one.”