Coinbase, Klarna investor IVP backs London-based Volt in €54M round: Know more

Picture credit: Volt

London-based Volt, a real-time fee infrastructure firm, introduced on Wednesday that it has raised $60M (roughly €54M) in a Collection B spherical of funding led by Silicon Valley-based agency IVP.

New investor CommerzVentures additionally participated within the spherical together with current traders EQT Ventures, Augmentum Fintech PLC, and Gasoline Ventures.

Tom Greenwood, CEO of Volt, says, “Testomony to our progress and our imaginative and prescient for real-time funds all over the place, we’re thrilled to be working with our new companions at IVP, becoming a member of their portfolio of main world manufacturers. We’re staying targeted, and humble, as we embark on this subsequent chapter.”

The announcement comes just a few days after signing a world partnership for real-time funds with the world’s largest service provider acquirer, Worldpay from FIS, and teaming up with Shopify to turn into the commerce platform’s first open banking supplier.

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Volt says it can deploy the capital in the direction of increasing its real-time funds expertise to APAC with an Australian market entry deliberate for later in 2023 and in addition has its sights set on the US market. 

The UK firm may also use the funds to advance its product suite to combine money administration. As well as, it can strengthen its product and engineering groups.

Volt: Actual-time fee supplier

Volt, based in 2019, supplies real-time funds and combines new technology account-to-account (A2A) accounts into one product. 

The corporate’s open funds gateway permits retailers and PSPs to course of transactions securely between accounts held at greater than 5,000 banks within the UK, the EU, and Brazil. 

Volt’s aggregation mannequin supplies unrivalled open funds attain and maximises transactions’ velocity, safety, and resilience.

Volt, which is presently obtainable throughout the UK, Europe, and Brazil. 

The investor

Primarily based out of Silicon Valley, IVP helps breakout corporations develop into enduring market leaders. 

With a 40-year report of driving progress and 130+ IPOs, IVP has partnered with over 400 corporations together with Amplitude, Brex, Coinbase, Crowdstrike, Datadog, Discord, Klarna, Slack, Snap, and Twitter. 

“True to its identify, Volt is creating an electrifying world community for instantaneous, safe and cost-effective A2A funds. The knowledge and expertise of the founders accrued at transformative funds corporations, coupled with the gifted workers on the firm, strongly place Volt to provide retailers and fee companions the lightning-fast, best-in-class fee resolution they’ve wished and wanted,” says Eric Liaw, Common Companion at IVP.

Angela Zhu, Companion at IVP, says, “As over 70 nations, together with the US, transition to RTP techniques, retailers expertise the immense advantages of instantaneous, safe, and cost-effective A2A funds. With the worth of A2A funds in e-commerce transactions set to succeed in $757B by 2026, Volt is nicely positioned to redefine the way forward for funds on a world scale.”