Payaut secured funding of €1M in funding round led by LocalGlobe and Finch Capital

Payaut, an Amsterdam, The Netherlands-based SAAS developer of an automated payment solution for online marketplaces, raised €1M ($1.1 M) in capital funding.

The financing round was led by LocalGlobe and Finch Capital, and included contributions from several seasoned professionals from the finance and payments industry.

Payaut, founded in 2019 by Ernst van Niekerk and Gillis Haasnoot, is a company that provides a PSD2-compliant and automation of the payment process.

The solution helps online businesses that are part of the payment flow to easily comply with the new PSD2 regulations, while still able to use multiple Payment Service Providers (PSP’s). It also automatically assures the money ends up with the right persons or companies in the right ratio with SplitPayment.

Payaut verifies sellers on each platform instantly and automatically to comply with all the necessary ‘Know Your Customer’ regulations in the PSD2.