Open Payments, a Stockholm, Sweden-based open banking platform provider in the EU, raised €3M in seed funding.
The round was led by Industrifonden, with participation from existing investors Brightly Ventures, Luminar Ventures, and angel investors.
The company intends to use the funds to continue to grow the team and establish the platform in the Nordic and European market.
Led by Louise Brandt, CCO, and CEO Jonas Kjellin, Open Payments peovides an Open Banking platforms offering PSD2 API aggregation via a single and secure API. The company is an FSA licensed Payment Institute that provides a modular Open Banking Platform that enables businesses to easily and efficiently integrate with banks and other financial services through pure APIs. The system has allowed third-party providers and business partners to develop their own products and services under their own brand-name and still own their user journey. The platform supports an ecosystem where third-party providers and business partners will further enhance the development of the platform going forward. Open Payments has launched its services in Sweden and Finland and now plans to continue to expand into more markets cross Nordics and EU by the end of the year.