Marketing

Fintech start-up takes off in Germany – automated online payment solutions – eCommerce magazine

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  • Payaut is regulated by the DNB (Dutch National Bank) and recently received its European payment license
  • The online payment service provider raised over 3 million euros at the end of 2020 thanks to business angels such as Adyen and Mollie as well as European VC funds
  • Today the fintech is rolling out its offer in Germany, with Angelina Rigby as Country Manager

It was only in November 2020 that the fast-growing company raised over three million US dollars (2.65 million euros) in a seed financing round. Behind Payaut are renowned business angels from Adyen and Mollie as well as leading European VC funds such as LocalGlobe (Robinhood, TransferWise, Cazoo), Entrée (Cazoo, Gusto, Monday) and Finch Capital (BUX, Hiber, Fixico).

The investment will now be used for product development and European expansion. It will be easier for new customers to incorporate the payment solution and integrate it into existing marketplaces. The verification of new providers on a platform is also made easier.

In addition, Payaut plans to open up new markets in Europe: “We want to scale up quickly and grow to $ 300 million in payment volume by 2022. Our strong fintech investors now enable us to roll out into new markets. Germany is just the start – we have all of Europe in our sights, ”explains Ernst van Niekerk, CEO of Payaut.

Market entry in Germany for Fintech Payaut: From Amsterdam to Berlin

Germany is a central market for fintechs – Payaut is no exception. The goal is to triple the number of customers by the end of 2021 and since the fintech has just received its Europe-wide payment lists, nothing stands in the way.

With the opening of the Berlin Payaut office, the company aims to meet local needs faster and German safety and quality standards even better. With Angelina Rigby, as head of Germany, the local business is in good hands to develop the customer portfolio on site. Angelina has, among other things, gained fintech experience in management positions at companies such as PayPal, American Express and Zooz. “Currently, common marketplace solutions from payment providers (PSPs) do not allow online retailers to work together with several PSPs without any problems. The traders on the marketplaces would have to go through the risk assessment again for the payouts at each PSP. With Payaut, we want to open up and democratize the payment options for marketplaces and platforms through a one-time check. This is how we make your life easier and you can provide the best possible service and grow indefinitely. This payment solution is unique and I am very happy to be leading the market entry in Germany. ” So Angelina Rigby.

Fintech Germany
Image: Angelina Rigby / Payaut

“Payaut offers a much-needed solution for a wide range of online marketplaces,” said Suzanne Ashman, General Partner at LocalGlobe. “They are already helping marketplaces in rental, fashion, ticketing, healthcare and the sharing economy. We know the challenges marketplaces and platforms face when it comes to working with PSPs and complying with the new regulations. We know from our own experience that the Payaut solution will be very much welcomed on many platforms abroad. ” Add them.

The comprehensive payment solution for marketplaces in Europe

Payaut was founded in 2019 by Ernst van Niekerk (ex. Adyen) and Gillis Haasnoot (ex. Spilgames). Both experts in the payment industry as well as in e-commerce. Their mission is to offer operators and users of online marketplaces the best e-commerce experience.

Payaut’s payment solution ensures that the money that flows through online marketplaces ends up with the right seller, regardless of whether it is a private individual or a company. The platform acts as a link between the payment service provider and the sellers. In this way, Payaut prevents online marketplaces from necessarily being tied to a single PSP. Instead, Payaut customers are able to combine several payment services such as Adyen, Stripe, Unzer or Mollie. This results in higher authorization rates, unlimited payment options, reduced downtime and the best prices on the market. With Payaut, the marketplace is PSD2-compliant, because the platform also takes care of the everyday hurdles of payouts, split payments and KYC, among other things. This allows online marketplaces to focus on getting the most out of their platform and growing their business.