Payaut closes venture round at €8 million
4 min read
Payaut, an Amsterdam-based fintech, have just announced the successful close of their seed round, securing €8 million in funding. The round was led by Gradient Ventures, Google’s AI-focused venture fund, and was also supported by several past investors including LocalGlobe and Entrée Capital.
The company have revealed that they intend to use the funding to help drive their expansion in Europe. They also plan to launch a multicurrency platform to support these growth plans and will look to increase their presence in Germany, Southern Europe and the Nordics specifically. Talent Ticker predicts imminent growth across the board to support Payaut’s expansion plans as they look to scale their outreach and develop their capabilities.
Who are Payaut?
Payaut, founded in early 2019 and launching just six months later, set out with the mission to “take over the world of platforms” and “Payaut every seller in the world”. A payment solution for online marketplaces and platforms, they proudly boast that they are the only payment solution that connects with any Payment Service Provider (PSP) and offers instant compliance for any platform with PSD2 regulations. Payaut takes care of all pay-outs, split payments and KYC difficulties.
By enabling online marketplaces to seamlessly pay their sellers, while ensuring their own compliance, Payaut is offering a service that streamlines a difficult process, while still providing flexibility to their clients on their choice of payment provider. With other automated solutions, including invoicing, reconciliation, KYC check, and split payments etc., Payaut guarantees all their clients are compliant and protected with European PSD2 legislation. Payaut acts as an intermediary between sellers and different PSPs giving users more flexibility as well as freeing up their time to focus more on the growth of their individual businesses.
Despite being a relatively small company still, Payaut are very much of a growth mindset. Payaut offers an attractive package for those looking to get involved with a dynamic and enthusiastic team. With a handful of tempting perks, including a dog-friendly office, lunches provided in-office, a new MacBook Pro, and a range of company events both inside and out of the office, Payaut are doing what they can to make start-up life as comfortable as they can. Here at Talent Ticker, we think Payaut might just be the next big thing – and they’re certainly one any financial services recruiter will want to keep tabs on!
How should recruiters approach Payaut?
Approaching Payaut now is the perfect time for you to make an impact. The company, still in their early years, are at a point where scaling is an imminent task. Get your foot in the door with Payaut now, and you could be setting yourself up with a relationship that will be mutually beneficial for years to come. With cash in their pockets, it’s a sure bet that hiring will be near the top of their action plan; Payaut have even stated that they’re looking to add another 15 to their headcount this year bringing the team to a total of 40.
With the addition of their new multi-currency platform, enabling them to move beyond just EUR payments, Payaut are placing themselves in a strong position for growth into markets outside of Europe too. This is a company with a clear roadmap of where they want to be. Reach out to them now while momentum is building and show them you understand their expansion ambitions. This seed raise builds on Payaut’s initial €2.6 million raised in 2020 and brings their total raised to a respectable €11.6 million.
Early in 2021 German-Israeli payment intelligence company, Fraugster, announced their partnership with Payaut. Their union allows marketplaces easy access to a range of fraud prevention solutions. This news was received just a few short months after another partnership announcement, that of Payaut and Austria-based Ixopay, a PCI-certified payment orchestration platform. With several strong European-centred partnerships under their belt, Talent Ticker expects to see more partnership announcements as they continue to develop their capabilities and grow their client-base.
CEO and Founder, Ernst Van Niekerk commented: “Not only will we be able to expand our platform to provide new solutions, we will also be able to increase our presence across a number of major new markets.”
Payaut are currently advertising a handful of Amsterdam-based and hybrid-remote live vacancies, bolstering their sales, product and technology teams specifically. Recruiters should approach now with a strategy to address their current hiring needs while aligning themselves as the go-to for securing upcoming roles across the year as they continue their scaling journey.
- Size: 25 employees
- HQ: Amsterdam
- Founded: January 2019
- Founder & CEO: Ernst Van Niekerk
- Homepage: https://www.payaut.com/
- Talent Ticker company profile here
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