Fintech startup Klarpay AG raises CHF 3M to accelerate growth

Founded in 2019 by Mihkel Vitsur and Martynas Bieliauskas, Klarpay became the first Swiss-licensed fintech company to work exclusively with e-commerce, digital entrepreneurs, and social media influencers. The startup seeks to empower digital businesses through borderless, scalable, bespoke business accounts and payment solutions. Klarpay’s innovative solution brings together decades of combined industry experience to offer digital entrepreneurs all-in-one business banking services, including access to multi-currency IBAN accounts, global payment acceptance, and digital disbursement services.

“At Klarpay, we are not looking to reinvent the wheel. Reliable business payment solutions are out there. Our proprietary technology simply integrates best-of-breed payment products and solutions in an all-in-one banking and payment solution, exclusively developed for today’s online businesses,” states Martynas Bieliauskas, CEO of Klarpay

The Zug startup has now obtained the first financing round of CHF 3 million, marking an essential step in its trajectory. The funds will boost the product-based growth strategy and enable Klarpay to grow the headcount and client base, and establish a product-market fit. Moreover, the startup will leverage the network and expertise of its new investor base to accelerate growth in 2022 and beyond.

The lead investor payabl. Group, was founded in 2010 to accelerate technological innovation in the payment services industry and democratise access to global payment solutions. With offices in Frankfurt, London and Cyprus, payabl. today serves several high-profile fintech customers, including eToro and Bernstein Bank.

In line with the funding round, payabl. CEO Ugne Buraciene will join Klarpay’s advisory board. “I’m excited to be part of Klarpay’s growth story and truly believe that together we can explore and harness the potential of the fintech industry. Our partnership with Klarpay came naturally as our products and services complement one another. We feel that between our acquiring and alternative payment solutions and Klarpay’s transactional and settlement banking capabilities, this mutually beneficial partnership will add significant value to our clients, who are always at the heart of our decisions”.

All new investors who contributed to Klarpay’s latest funding round were strategically selected based on their successful track record in driving business performance and their ability to contribute to Klarpay’s continued growth and expansion positively.

(Press release/RAN)