kevin. raised $10 million in a seed round led by OTB Ventures and SpeedInvest.

kevin., a Vilnius, Lithuania-based fintech startup providing payment infrastructure for online, mobile, and physical sales, announced the completion of a $10 million seed funding round.

The money was raised from investors co-led by OTB Ventures and SpeedInvest, and joined by OpenOcean and Global PayTech Ventures.

kevin., founded in 2018 by CEO Tadas Tamošiūnas, developed a secure and developer-friendly account-to-account payments infrastructure accessible via an API. 

The tool is used by other businesses to accept payments directly from banks, cutting out the card networks and making payments process cheaper, faster, smoother and more convenient. The company also launched an API tool that cuts out credit cards as the middlemen in mobile payments, as merchants are able to accept payments directly from bank accounts for services like parking, taxis, car-sharing, deliveries and insurance. UniPark, the largest parking operator in the Baltics, is using the solution for in-app payments and reports paying 80 percent less on average for transaction fees.

kevin. also says that is working for the development of a POS payments solution, a product that will allow customers to seamlessly pay from their bank accounts for goods in physical shops through existing card terminals using NFC technology. At the same time, merchants avoid card networks and increase savings on transaction fees.

kevin. previously raised €1.5 million round (also dubbed seed) at the end of 2020 and a total of $4 million.