London-based FinTech Vyne Secures £11.3m Funding
(24 September 2021 – United Kingdom) The London-based Financial Technology (FinTech) company Vyne has recently secured £11.3 million in funding to expand its open banking payment services.
Vyne specialise in using open banking Application Programming Interfaces (APIs) for instant account-to-account transactions, primary designed to improve the relationship between merchants and consumers. The company believes that their solution will open more digital payment channels such as QR codes or pay-by-link. £11.3 million will enable the FinTech to accelerate growth trajectory, take up global opportunities and advance international payment coverage.
“This seed round will further propel Vyne on its mission to make account-to-account payments the best way to pay and get paid around the world” commented Vyne CEO, Karl MacGregor
“The calibre of investment we have received is testament to not only the team’s hard work to date but also the opportunity open banking presents to overhaul the traditional banking and payment infrastructure that merchants and consumers have been beholden to for decades” he also added.