Token provides open banking payments infrastructure and APIs that let clients plug-and-play, white-label or build their own account-to-account payment propositions. Its core product supports the transition from card payments to A2A bank payments and extends functionality beyond regulatory requirements. Token reports it handles tens of millions of open payments yearly for more than 80 payment service providers, gateways, banks and large merchants. Clients using Token.io’s infrastructure include BNP Paribas, HSBC, Mastercard, Nuvei, Paysafe, Ecommpay and others. The company plans to use the $40M Series C proceeds to expand open banking connectivity across Europe and to launch APIs for Variable Recurring Payments and open finance apps. Token operates offices in London, Berlin and San Francisco. Token provides an open banking payments platform that aims to drive the shift from traditional payments to account-to-account payments by offering a fast, simple path to adoption for large merchants, PSPs and banking-as-a-service platforms. Its Token Pay product gives secure, unified access to banks across Europe to initiate real-time account-to-account payments straight from apps and websites, with connectivity to over 3,000 banks. The company was founded in 2016 and is led by CEO Todd Clyde. Token was one of the first UK firms authorized by the Financial Conduct Authority as a payment initiation and account information service provider and is building out a stack of open payment and data services powering corporate and consumer use-cases. Inaugural open payment use-cases include account funding, paying off credit cards and utility bills; complementary open data use-cases include accounting integration, credit risk analysis and cash flow management. Customers include BNP Paribas, HSBC, Contis, OpenPayd, UpCo and Money Dashboard, and Token has offices in London, San Francisco and Berlin. The company says it will use the new funding to continue expanding its business reach and product development efforts. Token provides TokenOS, an open banking platform that enables a global ecosystem of banks, their customers and developers to initiate payments and move money and information securely and instantly. The company was founded in 2015 by Steve Kirsch and is based in San Francisco, CA and London, UK. Token reports more than 4,000 banks connected to its platform and lists customers including Tandem Bank, Think Money Group, An Post, Sberbank Croatia and Slovenia, and Khaleeji Commercial Bank. It was recently selected by Mastercard as one of its partners to support the connectivity layer of Mastercard's open banking hub. Token says it will use new funding to expand adoption of its open banking platform and to accelerate new ways of innovating payments with digital money and ID solutions. The company raised $16.5M in funding to support these plans. Token, Inc. is an open banking platform founded in 2015 by Steve Kirsch and Yobie Benjamin, headquartered in San Francisco with a European office in London. The company provides banks a PSD2 compliance solution that enables account access to third-party providers while creating opportunities to generate new revenue. Token also offers programmable money capabilities for banks to build high-value use cases such as e-commerce checkout, B2B payments, and bill pay. The company appointed Todd Clyde as COO and has strategic partnerships with Fidor Bank and OP Bank. In April 2017 Token raised $15.7m in a Series A funding round. Investors in the round included Octopus Ventures, EQT Ventures, OP Financial Group, Plug and Play Ventures and Digital Currency Group.

Total raised

$87M

Funding rounds

4

Latest round

Series C

Latest activity

May 2022