ZTL Payment Solution secures €2.5M

ZTL Payment Solution, an Oslo, Norway-based provider of a B2B software solution for payment processing, completed a €2.5M ($2.7M) investment round.

The funding values the company at €4.9M ($5.4M). Investors in the company include management consulting firm Analytika, Icelandic Bank Arion Bank, Tripod Capital Collective and angels Trond Riiber Knudsen, Harald Mowinckel and Tore Totland.

ZTL Payment Solution was founded in 2018 by CEO Andreas Bjerke and Stein Gulbrandsen, developed a B2B payment platform as an alternative to the banks Transactional Banking Services and their domain on corporate payments and remittances. The solutuon can be integrated into ERP systems, banks and other FinTech’s via an API providing a customized payment solution.

In April 2020, the company received a license from the Financial Supervisory Authority from Norway. In addition, the company received PSD2 licenses for payment initiation and account information.