Payaut, an Amsterdam, The Netherlands-based automated payment solution for online marketplaces, raised €1m in funding.
Backers included LocalGlobe and Finch Capital, as well as several seasoned professionals from the finance and payments industry.
Led by Ernst van Niekerk, Gillis Haasnoot, and Pieter de Haas, Payaut provides a PSD2-compliance and automation of the payment process. The solution helps online businesses that are part of the payment flow to easily comply with the new PSD2 regulations, while still able to use multiple Payment Service Providers (PSP’s). It also automatically assures the money ends up with the right persons or companies in the right ratio with SplitPayment. Payaut verifies sellers on each platform instantly and automatically to comply with all the necessary ‘Know Your Customer’ regulations in the PSD2.
For now, customers include Dutch Airbnb for boats, Barqo, and for motorbikes, Motoshare, and insurtech SharePeople, which offers income protection for entrepreneurs.
The startup is currently in talks with investors and expects to close a large seed round within a couple of months.