kevin. to get a €1.5 million seed round.

kevin., a Vilnius, Lithuania-based fintech startup, announced the completion of a €1.5 million ($1.8M) seed round.

The money was raised from a range of angel investor swhose name remained undisclosed.

kevin., founded in 2018 by CEO Tadas Tamošiūnas, developed a secure and developer-friendly 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.