4 years ago

Open Banking Payments Startup Vyne Secures $15.5 Million Seed Funding

  • London-based fintech startup Vyne has raised $15.5 million in a seed funding round led by Hearst Ventures and Entrée Capital

  • The company offers a challenger payments service that leverages open banking APIs to facilitate instant account-to-account transactions

  • Vyne plans to use the funding to accelerate its growth, expand internationally, and develop new use cases for its technology.

      • ProblemFinancial Services

      "making payments more flexible and efficient for businesses and consumers by leveraging open banking technology."

      Solution

      "Vyne offers a full-stack solution that enables businesses to accept payments directly from customers' bank accounts using open banking APIs. This eliminates the need for traditional payment gateways and reduces transaction fees. Vyne also provides features such as QR code payments, pay-by-link, and real-time cash flow visibility."

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