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Fintecture raises USD 7.5 mln in seed financing

Wednesday 5 May 2021 13:57 CET | News

France-based payment infrastructure provider Fintecture has raised USD 7.5 million in seed funding. 

The round was led by Target Global with Samaipata and Société Générale participating. Individual investors included operators and founders of Adyen, Affirm, American Express, Facebook Payments, Google, PayPal, and Snapchat.

The seed round is expected to accelerate the company’s deployment and goal of reaching 10,000 merchants as well as recruiting 30 new roles, and develop new service offerings, including the increasingly popular Buy Now Pay Later capability.

Fintecture was founded in 2017 and commercially launched in 2020. The company is licensed as a payment institution in 30 EEA countries and has developed API integrations in most banks across Europe.

Capitalising on technological and regulatory changes in the banking industry, one being 2018’s Payment Service Directive (PSD2), Fintecture created a series of APIs that integrate with banks, thereby creating the missing direct link between merchants and their customers.

 


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Keywords: payment institution, banks, API, payment initiation
Categories: Banking & Fintech | Payments General
Countries: France
This article is part of category

Banking & Fintech