Kani raises Series A funding to transform global payment reconciliation

The transaction involves an investment from Maven VCTs in conjunction with NPIF II – Maven Equity Finance, which is managed by Maven as part of the Northern Powerhouse Investment Fund II (“NPIF II”). FT Partners acted as the exclusive strategic and financial advisor to Kani.

This investment marks an important moment for the payments sector, as manual reconciliation processes are becoming outdated. With global payment volumes surging and cross-border transactions reaching all-time highs, the industry is at a turning point. Financial institutions are facing complex regulatory demands, rising expenses, and the heightened risk of manual errors.

Kani’s automated reconciliation platform has emerged as a solution to these widespread challenges, having successfully reconciled over EUR 24 billion in processed payments across five continents, according to the company. This track record supports the scalability of Kani’s technology and its potential to optimise how the payments industry approaches reconciliation and compliance. Kani’s technology has earned the trust of companies like Cardaq, Paysafe, Pluxee, and Transact Payments, who have adopted Kani's platform to reduce operational costs, overcome reconciliation obstacles, and uphold robust compliance in a progressively complex regulatory landscape.

The timing of this investment aligns with increasing digitisation in financial services and growing global safeguarding regulations, positioning Kani to address the rising demand for compliant reporting solutions. The company’s approach to payment reconciliation, combined with Maven’s strategic support, creates a strong foundation for continued growth and market leadership.

More developments from Kari Payments

In June 2024, Kani Payments announced its new partnership with CLOWD9 to increase its data reporting and reconciliation capabilities globally. This initiative accelerated CLOWD9's market readiness and improved its data management from clients. 

CLOWD9 used Kani Payments' SaaS platform to simplify transaction data ingestion and standardisation, including authorisation and settlement data. This partnership aimed to improve reporting for CLOWD9's clients and offered upgraded data customisation and visualisation through the Kani Payments portal, enabling tailored data analysis.