Volt builds open-banking payment rails and related tools — online payments, payments by link, recurring payments, reconciliation dashboards, fraud prevention, account-checking tools and migration tools to move users from card payments. The company integrates with roughly 5,000 banks across the U.K., Europe and Brazil and signs up merchants and payment partners to use its A2A rails. Its client roster includes customers such as Farfetch, Vestaire Collective and eToro, and it has commercial deals with Shopify and Worldpay. Volt reports gross margins on Volt-powered transactions of over 80%. The company plans to use new funding to expand internationally (including further expansion in the Americas, especially Latin America, and Asia Pacific) and to expand its product set. Prior to this round Volt had raised just under $30 million in seed and Series A funding. Volt is a London-headquartered open payments gateway provider launched in 2019 that connects more than 5,000 banking platforms across the UK and EU. Its core product, Volt Connect, provides a single point of access to account-to-account and instant payment rails including the UK’s Faster Payments Service and SEPA Credit Transfer and SEPA Instant Credit Transfer schemes. The platform includes cash management functionality, automatic reconciliation, reporting, and instant settlement notifications to give merchants and payment service providers visibility and control of multi-currency PSD2 payments from initiation to arrival. Volt positions itself as a single switch bringing new real-time networks together and aims to expand operations into new markets to increase its global presence. The company highlights that 58 countries are introducing instant payment schemes, which it says supports broader adoption of its offering. Its most recent financing is a $23.5 million Series A led by EQT Ventures.

Total raised

$84M

Funding rounds

2

Latest round

Series B

Latest activity

Jun 2023