Yaspa, an award-winning London-based FinTech, specialises in instant payment and identity services using open banking technology and AI.
The company has raised $12m in a funding round led by Discerning Capital, with participation from long-standing investor TechStars Ventures.
Yaspa’s platform, Intelligent Payments, enables regulated businesses to enhance customer insights while improving cash flow through its real-time account-to-account (A2A) payments and customer verification services.
The fresh investment will support Yaspa’s expansion into the United States, where it has recently incorporated a new entity in Atlanta, Georgia. The company plans to hire a local team, build strategic partnerships and tailor its platform to meet the needs of US operators.
The US open banking market is expected to grow rapidly, with a CAGR of 22.5% from 2024 to 2031, increasing from $7.08bn in 2023 to $35.79bn in 2031, according to a 2024 Markets and Data report.
Discerning Capital, which invests in companies operating at the intersection of online gambling, sports, media and technology, sees Yaspa’s technology as a potential disruptor in the gambling payments ecosystem. The firm believes that Yaspa’s A2A solution offers a globally scalable alternative to traditional payment methods, reducing chargebacks while integrating player protections.
Yaspa CEO James Neville said, “This significant investment marks a major milestone for Yaspa. It enables us to take our proven technology into a new market at pace – hiring a local team, building strategic partnerships and adapting our platform to meet the specific needs of operators.
“We’re looking forward to supporting businesses that want to lead on compliance, player safety and user experience as the market matures.”
Discerning Capital partner David Williams, who will join Yaspa’s board following the transaction, said, “We are excited to be partnering with Yaspa to help them expand deeper into regulated gambling.
“The high-risk nature of gambling payments makes it an area in need of innovation and we believe Yaspa addresses two of the biggest issues: chargebacks and player protections. We believe that any operator who evaluates Yaspa’s A2A product versus their existing payments provider will end up adding Yaspa.”
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