Volt eyes global payments network with $60M raise

London-based open banking startup Volt is looking to expand global operations with a $60 million series B round. The additional funds were announced by the company this month. Founded in 2019, Volt is seeking to create a global real-time payments system by uniting various open payments networks onto one platform, according to its website. [caption id="attachment_220584" align="alignright" width="300"] Can Stock image by Yakobchuk [/caption] “[With Volt], the pay-by-bank experience … is unified and harmonized around the world,” Volt Head of Content and Brand Communications Charlie Gilbert told Bank Automation News , adding that he is looking toward global parity for card payments in the future. Securing funding in the United Kingdom has become “very challenging” in the past year, according to Gilbert, but he said the company’s goal of a global payment network has allowed it to remain attractive to investors. The cross-border focus brings both market opportunity and challenges. Gilbert said the company must remain “agile” to mesh with various payment infrastructures and regulatory regimes across continents. The company plans to use the $60 million in funding, led by investor IVP , to expand, Gilbert said, noting that Volt will enter the Australian market by the fourth quarter. Blackbird AI secures $20M Risk management platform Blackbird AI has gained a $20 million infusion after a series B round led by cybersecurity investor Ten Eleven Ventures earlier this month. The cybersecurity startup’s Constellation platform uses AI to detect suspicious “narratives” on social media, in the news , and on the dark web, working with more than 25 languages as well as image recognition, co-founder and Chief Executive Wasim Khaled told BAN. Blackbird AI is looking to address the challenge of misinformation in the age of generative AI. Khaled said the company plans to use the raise to “identify and neutralize malicious propaganda campaigns generated by AI.” The company, whose investors include former United States “cyber czar” Richard Clarke , plans to use the additional funding to create an AI-powered co - pilot and scale its operation globally, Khaled said. With these goals in mind, Khaled said Ten Eleven’s focus on cybersecurity made it an ideal investor. “They bring much more to the table than capital,” he said. Atoa locks down $6.5M to challenge card giants Payments platform Atoa raised $6.5 million in a seed round led by Peter Thiel ’s Valar Ventures , according to a June 13 news release. The U.K.-based open platform company is offering a QR code-based, in-store instant payment process with the ability to connect to any bank the customer uses, according to its website. Founded in 2021, the startup is seeking to challenge payment behemoths Visa and Mastercard by offering lower rates for merchants, Atoa co-founder and Chief Operating Officer Cian O’Dowd told BAN . “Both Visa and Mastercard are unforgiving paymasters. They take 1-2% on each payment and still take home record profits,” O’Dowd said, adding that merchants can save 70% on fees using Atoa’s platform. The funding round, which adds to $2.2 million in November pre-seed funding, will go toward growing the company and onboarding businesses across the U.K, according to O’Dowd. TreasurySpring zeroes in on cash investment with $29M series B London-based fintech TreasurySpring raised $29 million in a series B round Monday to help companies invest cash reserves. The startup, founded in 2017, says it is tapping an underserved market by enabling companies of all sizes to diversify their deposits using investing methods that were previously only available to major industry players, according to a TreasurySpring release. “For too long, the importance of cash has been overlooked by many operating businesses and investors alike,” co-founder and Chief Executive Kevin Cook said in the release. Cook added that with rising interest rates and the recent collapse of Silicon Valley Bank and Credit Suisse , “companies of all sizes have woken up to the benefits of diversification, security and attractive risk-adjusted returns.” TreasurySpring plans to use the raise, led by Balderton Capital , to grow the company and increase personnel by half over the next year, according to the release. SaaS startup Mypinpad secures $13M raise B2B authentication service Mypinpad has $13 million to work with after a raise led by Crossfin Holdings , according to a June 22 release. The Wales-based software-as-a-service startup offers secure mobile payments and identity authentication to more than 100,000 merchants in 29 countries, according to its website. “We are incredibly proud to have secured this investment, especially in the current difficult investment climate,” Mypinpad Chief Executive Barry Levett said, adding that the raise “demonstrates market recognition of our value proposition, successful track record and the innovative solutions we offer.” Mypinpad plans to use the funding to expand its global offerings and is looking to benefit from partnerships with other startups in Crossfin’s portfolio, according to the release. “Barry and his team have built an innovative, scalable business that aligns well with Crossfin’s best-of-breed mPOS and SoftPOS payment solutions and related mobile payment security solutions, enabling us to extend our reach across emerging markets globally,” Crossfin co-founder and Chief Executive Dean Sparrow said in the release.

Volt eyes global payments network with $60M raise

Blackbird AI secures $20M

Citizens Bank retrains employees for AI

Podcast: FIs invest in tech, AI for customer retention

Related Posts

J.P. Morgan Payments not worried about escalating token cost, exec says

Inside look: AWS’ agentic payments tool for developers

Finastra’s OperatorAssist saves 1.5 hours a day per payment operator

Podcast: FIs invest in tech, AI for customer retention

Stay Informed with Our Newsletters

EMERGING FINTECH DIRECTORY

The Buzz Podcast

SPONSORED

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

Is Your Technology Supplier There for You?

Hiding in Plain Sight: How to Use Data to Spot Consumer Accounts Being Used by Small Businesses

Connect

Welcome Back!

Retrieve your password