Token secured $15 million in Series B financing

Token, a London, UK-based developer of an open payments platform, secured $15 million in Series B financing.

The money was raised from SBI Investment and Sony Innovation Fund by IGV and included contributions from Octopus Ventures, EQT Ventures and Opera Tech Ventures.

Token, founded in 2016 and led by CEO Todd Clyde, built an infrastructure platform for banking, which helps both corporations and consumers conduct fast account-to-account payments, reports exponential growth throughout the pandemic.

The company says that it is now processing live transactions through PSD2 APIs from over 600 banks in 14 countries across Europe. Token  has additional offices in San Francisco and Berlin, where it’s working with the German Federal Financial Supervisory Authority (BaFin) to receive its license in Germany.

Token previously raised $16.5 million round in 2019.