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Token.Io Raises $40M To Expand Open Banking-Based Account-To-Account Payments In Europe
PRIVATEMay 12, 2022•about 4 years ago
Amount Raised
$40 Million
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
About
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. The company is not disclosing valuation but CEO Todd Clyde confirmed it was up compared to its previous financing. The company started several years ago with a mission to build alternative payment technologies to improve how cross-border payments were made, and cryptocurrency was indeed part of that premise.
