Payaut, an Amsterdam, Netherlands-based automated payment solution for online platforms and marketplaces, raised €8m in seed funding.
The round was led by Gradient Ventures, Google’s AI-focused venture fund, with participation from existing investors LocalGlobal and Entrée Capital.
The company intends to use the funds to expand its operations across Europe with the roll out of its new multi-currency platform, which will enable customers to accept payments in currencies including USD, GBP, JPY and AUD.
founded in late 2019 by Ernst van Niekerk, Payaut is a fintech company that offers an automatic payment solution for online platforms and marketplaces. With the system, these online marketplaces can seamlessly pay their sellers and ensure compliance with PSD2 legislation while having flexibility on which payment provider(s) they use. It also provides automated solutions such as reconciliation, balance management, invoicing, seller verification through KYC checks, and split payments.
By expanding beyond EUR payments, the company will also be positioned to enter markets outside of Europe. Payaut plans to begin its expansion drive by increasing its presence in Germany, Southern Europe and the Nordics.
FinSMEs
13/04/2022