Klarpay AG Raises CHF 3M to Accelerate Growth

Swiss fintech Klarpay AG recently announced the completion of its first external financing round, raising CHF 3m. The round was led by established payments institution payabl. which was founded in 2010 with the mission to accelerate technological innovation in the payment services industry and democratize access to global payment solutions. With offices in Frankfurt, London and Cyprus, payabl. now serves a number of high-profile fintech customers including eToro and Bernstein Bank.

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 positively contribute to Klarpay’s continued growth and expansion. Also, it should be noted that the founders of Klarpay, Martynas Beliauskas (Mihkel Vitsur), initially started the company as a bootstrap operation.

“Klarpay’s first external funding round marks an important step in our company’s trajectory as it will enable us to leverage the network and expertise of our newfound investor base to accelerate our growth in 2022 and beyond. More specifically, we intend to use the additional capital to drive our product-based growth strategy – aiming to grow our headcount, client base, and establish product-market fit,” said Martynas Bieliauskas, Klarpay CEO.

Klarpay is the first FINMA licensed Swiss fintech that works exclusively with ecommerce, digital entrepreneurs and social media influencers. Klarpay aims to empower online businesses by offering cross-border, scalable payment acceptance and remittance services. Founded in 2019, 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.

payabl. Group CEO Ugne Buraciene who will join Klarpay’s advisory board, has commented on the conclusion of Klarpay’s funding round:

“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. Klarpay was an easy partner for us as our products and services complement each other.

“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.”

Martynas believes Klarpay will continue to be a leading player in the fintech sector as it builds a team of innovators, industry experts and disruptors.

“We believe that Klarpay is well-positioned to play an integral role in unlocking friction around banking, payment, and disbursement solutions for digital businesses. Klarpay does not want to reinvent the wheels. There are reliable business payment solutions. 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.”

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