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London-Based Open Banking Solution Vyne Secures £11.3M Funding As It Focuses On Growth

London-Based Open Banking Solution Vyne Secures £11.3M Funding As It Focuses On Growth

09/24/21, 9:47 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/CA.svglondon
Money raised
£11.3 million
London-based Vyne, a challenger payments service using open banking APIs for instant account-to-account transactions has secured $15.5 million (nearly £11.3 million) in a funding round. Notably, this is the largest seed funding round in the UK open banking market to date.

Company Info

Company
Vyne
Location
london, ontario, canada
Additional Info
Vyne will use the funds to elevate its ambitious growth trajectory, attack the global opportunity, increase international coverage and bring new use cases to market, thereby forging the path to a future of account-to-account payments.Megumi Ikeda, Managing Director at Hearst Ventures, commented: “The global financial ecosystem is moving rapidly away from traditional payments systems and towards open banking and real-time payments. Vyne uses open banking to power account-to-account payments for online businesses, setting the course for the future of payments. Reshma Sohoni, Partner and co-founder at Seedcamp, added: “As leading payments experts, Vyne are the perfect team to capitalise on the new opportunities for innovation brought about by open banking.
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