2 years ago

Lopay Raises £6 Million to Expand Instant Payment Platform for Small Businesses

  • Lopay, a London-based instant payment startup, has secured £6 million in Seed funding from BackedVC, Portage, The Venture Collective, and angel investors

  • The company plans to use the funds to expand its operations and reach

  • Since its launch in January 2022, Lopay has attracted over 20,000 small business users, processing nearly 10 million customer payments

  • Lopay estimates that its competitive pricing has saved merchants more than £1 million in card fees.

      • ProblemFinancial Services

      "Lopay aims to address the issue of delayed payment processing for small businesses, which often struggle with slow settlement times and high transaction costs."

      Solution

      "Lopay offers an instant payment solution that allows small businesses to receive cleared funds immediately after a transaction, providing them with faster access to their earnings."

      Covered on