Open Banking provider OptioPay secures EUR 5 mln funding

Wednesday 7 April 2021 14:33 CET | News

Open Banking fintech OptioPay has announced additional funding of EUR 5,250,000 and onboarding of new investors, according to the official press release. 

METRO and Avaloq Ventures are participating for the first time alongside existing investors NN Group and an early-stage investor of Commerzbank Group, main incubator, as well as the management team. OptioPay and METRO will collaborate on becoming a pioneer in Open Banking services for the retail industry. The two companies developed a trusted working relationship in March 2020 through a successful cooperation in the Corona aid project ‘HilfeLokal’. With its investment in OptioPay, METRO emphasises the strategic relevance of Open Banking for the retail industry.

The Swiss financial services provider Avaloq and OptioPay are already in a strategic partnership to further expand OptioPay's Open Banking portfolio in the DACH-region. The follow-on investment by existing shareholders NN Group and Commerzbank underlines OptioPay's growth trajectory in the Open Banking market and the excellent development of the FinAdTech company in creating important customer relationships.

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Keywords: Open Banking, fintech, investment
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Germany
This article is part of category

Banking & Fintech

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