London FinTech Volt has raised 拢47 million from a Silicon Valley investor to expand its infrastructure for real-time payments around the world.
Volt, which has already launched in the UK, Europe and Brazil, will expand into APAC – with an Australian market entry planned for later in 2023 – and the Americas, with the US a firm focus.
It will also enhance its product suite to include cash management, while also significantly bolstering its product and engineering teams.
The investment round was led by IVP, a Silicon Valley based firm that has a 40+ year track record backing companies like Coinbase, Slack and Supercell. New investor, CommerzVentures, is also participating in this Series B round along with existing funds, including EQT Ventures, Augmentum Fintech PLC and Fuel Ventures.
鈥淭estament to our progress and our vision for real-time payments everywhere, we’re thrilled to be working with our new partners at IVP, joining their portfolio of leading global brands,鈥� said Tom Greenwood, CEO.
鈥淲e’re staying focused, and humble, as we embark on this next chapter.鈥�
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Founded in 2019, Volt is bringing account-to-account (A2A) payments infrastructure to a single point of access. It recently secured a global partnership for real-time payments with the world鈥檚 largest merchant acquirer, Worldpay from FIS, and teamed up with Shopify to become the commerce platform鈥檚 first open banking provider.
鈥淭rue to its name, Volt is creating an electrifying global network for instantaneous, secure and cost-effective A2A payments. The wisdom and experience of the founders accrued at transformative payments companies, coupled with the talented employees at the company, strongly position Volt to give merchants and payment partners the lightning-fast, best-in-class payment solution they鈥檝e wanted and needed,鈥� said Eric Liaw, general partner at IVP.