Participated · Series A · Nov 2022

Fintecture offers multiple B2B payment products built on open banking, including a payer-facing flow (link or QR) that connects to bank accounts for instant payment or confirmed transfers. It generates virtual IBANs to automate reconciliation and provides a installments product that lets companies unlock credit lines with their bank while Fintecture handles fraud and payment processing. The startup also automates refunds with integrated KYC/AML and instant payments. Fintecture has signed partnerships with corporate clients such as Edenred and Bricoman. To date, 200,000 companies have interacted with Fintecture, and 7,000 businesses collect payments through the platform (about 1,000 use the product directly; the rest use integrations with Pennylane, Libeo, Regate and others). The company has 80 employees and plans to hire another 40. Fintecture builds payment infrastructure via APIs that integrate with banks to create a direct link between merchants and customers, aiming to replace legacy multi-intermediary payment rails. The company was founded in 2017 and commercially launched in 2020, capitalising on PSD2-driven changes in banking. It is licensed as a payment institution in 30 EEA countries and has developed API integrations with most banks across Europe. Fintecture targets reductions in chargebacks, fraud, punitive fees, and payment declines, citing industry pain points such as a $100 billion payments-provider market and 20% of online card payments being declined. The seed financing is intended to accelerate deployment toward a goal of 10,000 merchants, recruit 30 new roles, and develop new services including Buy Now Pay Later. The company positions its rails as a frictionless, secure, and lower-cost alternative to incumbent payment solutions.