London FinTech Yaspa has received 拢9m investment to fuel its expansion in the United States.
Yaspa provides instant payment and identity services, using open banking technology and AI to help regulated businesses elevate customer intelligence – and cashflow – via its proprietary real-time payments solution, Intelligent Payments.
It processes payments across a growing number of markets including Europe. It has also recently incorporated a US entity, based in Atlanta, Georgia.
The funding round was led by Discerning Capital and included Metavallon and TechStars Ventures. Discerning believes Yaspa鈥檚 account-to-account payments process will disrupt the gambling payments ecosystem while adding native player protections.
Yaspa is led by CEO James Neville, who co-founded the company in 2017 after having previously served as a CTO at Worldpay.
He said: 鈥淭his significant investment marks a major milestone for Yaspa. It enables us to take our proven technology into a new market at pace 鈥� hiring a local team, building strategic partnerships and adapting our platform to meet the specific needs of operators.
鈥淲e鈥檙e looking forward to supporting businesses that want to lead on compliance, player safety and user experience as the market matures.鈥�
David Williams, partner at Discerning Capital, will join the Yaspa board following the transaction.
鈥淭he high-risk nature of gambling payments makes it an area in need of innovation and we believe Yaspa addresses two of the biggest issues: chargebacks and player protections,鈥� he added.聽
鈥淲e believe that any operator who evaluates Yaspa鈥檚 A2A product versus their existing payments provider will end up adding Yaspa.鈥�