Straal announces external funding round; launches new payment method based on Open Banking

Straal, an international provider of payment, optimization and fraud prevention solutions for digital commerce, has secured over EUR 1 million in its first external funding round.

The money will propel product development, help the company to become a licenced financial institution, and speed up its international expansion. The third to be fostered by the new, PSD2-enabled payment method – Straal Direct – which the company is launching in December on selected markets. The raised sum equips Straal to conduct a larger round (Series A) in the 2nd half of 2020.  

Straal is a fintech company founded in 2017 in Poland. It provides a suite of solutions that make accepting online payments effective. Those include:

• a payment gateway with over two hundred acquiring connections and a broad range of alternative payment methods available,
• proprietary optimisation tools designed to maximise transaction authorization rates,
• a management and analytics platform – Kompas, and
• an anti-fraud system.

The amount of over EUR 1 million will be invested in the further development of Straal’s product portfolio, international expansion within the European Economic Area, and aligning with the structural and formal requirements for licenced financial institutions as the company’s licencing process is already on the home stretch.