Image credits: Payaut
Last year, Amsterdam-based fintech company Payaut launched an automated payment solution for online platforms and marketplaces. And now, the company has obtained a licence from De Nederlandsche Bank (Dutch central bank – DNB) to provide payment services.
The licence means Payaut can do business throughout Europe. Hence, the Dutch fintech firm is planning to roll out its services quickly in other countries, starting with Germany.
Recently, the winners of the 2021 Future Hamburg Award were announced.
Strengthening management
Ahead of expansion, the company has strengthened its management team with experienced fintech leaders – Angelina Rigby, Ingeborg van Harten (Chief People Officer), and Simon Hall (Chief Technical Officer).
Notably, Angelina Rigby has plenty of sales experience in the German fintech market during her time at PayPal, which in turn will help Payaut to accelerate the rollout in Germany.
Ingeborg van Harten will ensure that the team grows with quality and numbers, whereas Simon Hall will oversee product development. From his experience as Chief IT Architect at Boston Consultancy Group, Hall has the proper knowledge to scale the Payaut platform and make its international ambitions technically possible.
Unlike in the Netherlands, where iDeal prevails, PayPal is one of the largest payment methods for online marketplaces in Germany”, says Payaut CEO Ernst van Niekerk. “That makes Germany an important market for us. Not only are there more players, but they are also much bigger than in the Netherlands, and we can offer them something they have been waiting for. We are going to live in Germany with several Dutch clients who also operate in Germany. With Angelina’s experience, we will also quickly onboard other large German online marketplaces to our platform.”
After Germany, the company is planning for a full European rollout. Further, the company is developing a multicurrency solution for non-euro countries. That way, the startup can also process other currencies and pay marketplaces and sellers in their currency.
Automated payment solution
Founded in 2019 Ernst van Niekerk and Gillis Haasnoot, Payaut is on a mission to enable online platforms to give buyers and sellers the best commerce experience possible.
The company offers an all-in-one payment solution for online marketplaces that takes care of everything regarding payments towards the platform and the vendors it hosts. According to the company, the service functions as an intermediary between sellers and the different Payment Service Providers (PSPs).
Raised €3.65M so far
Consequently, marketplaces can use multiple providers such as Mollie, Adyen, or Stripe at the same time. Furthermore, Payaut helps platforms and marketplaces streamline different cash flows by providing insights through unified reports.
In December, last year, the company raised $3M (approx €2.65M) in a seed-funding round led by LocalGlobe. So far, Payaut has raised a total of €3.65M in investments from international parties and angel investors from the payment industry.
