Open Payments is a Swedish open banking platform that aggregates multiple bank APIs and ISO-based payment integrations into a single interface embedded in ERPs, payment providers and other financial applications. Its platform supports domestic and cross-border payments, account reconciliation, cash management, and same-day settlements. Recent product launches include cross-border payment capabilities with lower exchange rates and real-time access to rates to streamline bookkeeping. In 2024 the company achieved full coverage of the Dutch B2B banking landscape, forming a foundation for broader European expansion. Open Payments serves clients such as Monitor ERP, Treasury Systems, Juni Technologies, Bjorn Lunden and Speedledger. The company raised new funding to support continued growth, product development, and further expansion across Europe. Open Payments offers an Open Banking platform that shifts online banking functionality from banks to customers’ business systems and interfaces, enabling end users to approve and make secure, direct payments without logging into their online bank. The platform connects to commercial banks via API technology to enable services such as payments, account reconciliation, and cash management, and is designed to be embedded in client applications like ERP systems, payment providers, and fintechs. Its product is developed based on the European PSD2 directive. The company focuses on business-to-business (B2B) transactions and aims to support embedding online-banking functionality directly into clients' systems. Open Payments was founded in 2017 and is based in Stockholm and Vasteras, Sweden; CEO Louise Brandt previously held senior positions at Zettle by PayPal (formerly iZettle). The company plans to use recent funding to expand its European business reach and advance product development. Open Payments provides a modular Open Banking Platform that offers PSD2 API aggregation through a single, secure API, enabling businesses to integrate with banks and other financial services via pure APIs. The company is an FSA-licensed Payment Institute and allows third-party providers and business partners to develop products under their own brand while owning the user journey. Open Payments has launched services in Sweden and Finland and supports an ecosystem where partners can further enhance platform development. The company is led by CCO Louise Brandt and CEO Jonas Kjellin. It raised €3M in seed funding led by Industrifonden, with participation from existing investors Brightly Ventures, Luminar Ventures and angel investors. The firm plans to use the funds to grow the team and establish the platform across the Nordics and broader European market by the end of the year. Open Payments, founded in 2017 and based in Stockholm, has developed a PSD2 aggregated platform that initiates account-to-account payments and retrieves account information and transaction history on behalf of third-party providers with end-customer consent. The company exposes this functionality via a single API and provides a white-label development portal where third-party providers and business partners can build and deploy products under their own brand. Open Payments plans to grow its team and launch the platform across the Nordic and wider European markets. Its strategy emphasizes building an ecosystem of third-party providers and partners to enhance the development portal over time. Co-founders include former iZettle executive Louise Brandt (CCO) and Jonas Kjellin (CEO). The company raised seed capital to support team growth and market launch.

Total raised

$12M

Funding rounds

4

Latest round

Equity

Latest activity

Jan 2025