German payments start-up Ivy secures $20m in Series A funding round
Berlin-based open banking payments start-up Ivy has secured $20 million in a Series A funding round led by Valar Ventures.
Ivy raises $20m Series A
Existing investors Creandum, 10x Founders and Angel Invest also took part in the round, alongside a number of angel investors. According to TechCrunch, the Series A took place at a valuation of around $80 million to $90 million, and follows just weeks after Ivy announced it had raised €7.7 million in a seed funding round led by Creandum.
Founded in 2021, Ivy leverages open banking to facilitate instant bank payments from customers via an API, enabling merchants to skip intermediaries and any associated transaction fees. The company claims to have established a global reach and currently accepts payments from consumers in over 50 countries, with connections to over 500 million consumer bank accounts.
“Ivy is building a global API for instant bank payments,” the company states on LinkedIn.
“Over 60 geographies around the world are rolling out instant bank payment infrastructure; Pix, UPI, FedNow or open banking are just a few prominent examples. Ivy is bringing these regional and heterogeneous systems to a unified gateway.”
Ivy plans to use the fresh funding to fuel its expansion into new markets and boost product development and business growth. The company is also looking to build its team and is currently hiring across the board.
