kevin., a Vilnius, Lithuania-based fintech startup which provides payment infrastructure for online, mobile, and physical sales, secured $10m in seed funding.
The round, which brought total funding raised to date to $14m, was co-led by OTB Ventures and Speedinvest, with participation from OpenOcean, Javier Perez’s Global PayTech Ventures, and high net worth individuals including AmRest founder Henry McGovern.
The company intends to use the funds to further develop its product offering, particularly around POS payments, to expand into new markets.
Led by Tadas Tamosiunas, CEO, and Pavel Sokolovas, COO and Co-founder, kevin. offers customizable transacting solutions which scale to the size of any business. Its advanced A2A (account-to-account) payment infrastructure solution swiftly changes card payments to payments linked directly from customers’ bank accounts without using any third-party providers. The technology scales to businesses of any size and across industries, including retail, parking, fashion, car-sharing, deliveries, insurance and many more. kevin. focuses on mobile and POS payments where customers predominantly pay using cards currently. Its payment infrastructure is based on open banking – regulated by the European PSD2 Directive – which requires all banks and financial institutions in the European Economic Area to open their API for licensed third-party providers.
Currently, the company supports more than 2,700 merchants in 15 markets, including Sweden, Finland, Norway, Poland, Netherlands and Portugal. By 2022, kevin. expects to have operations in 28 markets in total, including in new markets such as the UK, Spain and France.
The company has a team of more than 100 employees in seven countries and it plans to expand its workforce to beyond 350 employees in 2022.