Token.Io Raises $40M To Expand Open Banking-Based Account-To-Account Payments In Europe
PRIVATEMay 12, 2022
Amount Raised
$40 Million
Round Type
Funding Round
LondonOtherInformation TechnologyCommerce and ShoppingProfessional ServicesFinancial ServicesSoftwarePaymentsFintech
Description
The rise of digital payments has changed the nature of how people do business with each other; and open banking — a movement in banking where incumbents are finally adopting newer technology such as APIs to open their systems to modern integrations — is leading to a wave of new payment methods, all of which are hoping to become as standard as cash or paying with cards. In the latest development on this theme, a UK startup called Token.io has closed $40 million in funding to expand its own particular push in payments tech — account to account payments and accessing accounts for transactions by way of a single API — deeper into the UK and across Europe.
Company Information
Company
Token.io
Location
70 St Mary Axe, Fourth Floor
London, England, United Kingdom
About
Token.io’s leading account-to-account (A2A) payment infrastructure is reimagined to empower banks, fintechs, platforms and payment companies with turnkey Pay by Bank solutions. The frontrunner in A2A payment infrastructure for banks, Token.io’s partners include three of Europe's five largest financial institutions. Its solutions are also trusted by a blue-chip payments community, including Mastercard, ACI Worldwide and Global Payments.
Fundz sees it the moment Token.io raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
LondonOtherInformation TechnologyCommerce and ShoppingProfessional ServicesFinancial ServicesSoftwarePaymentsFintech