There is no way to hide the exciting news anymore!
It's official and it's a fact, so we are more than happy to share that our portfolio grows fast and we would like to welcome a new company to our family.
Lithuanian startup Kevin has developed the technology that is a game-changer for the payments industry. Its unique infrastructure provides an alternative for traditional payment methods and enables merchants to facilitate payments from their customers' pre-linked bank accounts. Account-to-account transactions enable a seamless experience for customers, significantly reduced fees for merchants [traditionally charged by card network participants], and quick transaction processing.
The round was co-led by OTB Ventures and Speedinvest.
The Lithuanian fintech will use the fresh cash to launch a point-of-sale system, which will allow consumers to use Kevin for in-person transactions on existing card machines via NFC. This will work just like Google Pay, but the payment comes directly from an account instead of via a bank card.
"I think fintech will definitely continue to grow and expand in Europe in the years to come, and there is a lot more to be done. The vast majority of fintechs we see today are business-facing, which makes them banks' friends — not enemies." - our co-founder and general partner - Adam Niewinski says. source: www.businessinsider.com