UK paytech Volt secures $60m in Series B funding
UK-based paytech Volt, which is building a global infrastructure for real-time payments, has raised $60 million in a Series B funding round led by IVP.
Volt raises $60m Series B
Also taking part in the round was new investor CommerzVentures along with existing investors including EQT Ventures, Augmentum Fintech PLC and Fuel Ventures.
Founded in 2019, Volt currently operates across the UK, Europe and Brazil. Its open payments gateway allows merchants and payment service providers (PSPs) to process transactions securely between accounts held at more than 5,000 banks between the three regions.
With the new funds, it plans on bringing its payments technology to the Asia Pacific region, with entry into the Australian market planned for later in 2023. The company also has its sights set on the US market in the future.
Volt also plans to use the money to expand its network of acceptance, enhance its product offering to include cash management and strengthen its product and engineering teams.
“As over 70 countries, including the US, transition to RTP systems, merchants are experiencing the immense benefits of instant, secure and cost-effective account-to-account (A2A) payments,” comments Angela Zhu, partner at IVP.
“With the value of A2A payments in e-commerce transactions set to reach $757 billion by 2026, Volt is well positioned to redefine the future of payments on a global scale.”
