Open Payments announced raising €3 million from Industrifonden, Brightly Ventures, Luminar Ventures, and angel investors

Sweden Investments 24 August 2020
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Open Payments, a Stockholm, Sweden-based developer of an open banking platform, announced the completion of a new funding round totalling €3M ($3.5M).

The round was led by Industrifonden and included participation from existing investors Brightly Ventures, Luminar Ventures, and undisclosed angel investors.

The capital will be used hire more people and expand the busines in the Nordic and European market.

Open Payments, founded in 2017 by Louise Brandt and CEO Jonas Kjellin, has built an open platform providing banks API access to companies available via a Platform as a Service (PaaS) model. The company is licensed by the Swedish Financial Supervisory Authority and has launched its services in Sweden and Finland with a strong customer base that has built their open banking solutions leveraging Open Payments Platform.

Prior to this round, Open Payments raised a little more than $2 million, last one in 2019.