CA-TOKEN
27.1.2021 11:02:10 CET | Business Wire | Press release
Leading open banking payments platform, Token, today announces $15m in Series B financing, welcoming investment from SBI Investment Co. Ltd. and Sony Innovation Fund by IGV as well as from existing investors Octopus Ventures, EQT Ventures and the venture arm of BNP Paribas, Opera Tech Ventures.
The capital enables Token to continue driving the shift from traditional payment methods to account-to-account payments by providing the fastest and simplest path to adoption for large merchants, PSPs and banking-as-a-service platforms.
Founded in 2016, Token quickly established the lead in UK open banking payments. Token was one of the first UK companies to be authorised by the Financial Conduct Authority (FCA) as a payment initiation and account information service provider. In 2018, the company made history by becoming the first payment initiation service provider to conduct an end-to-end payment through a PSD2-compliant bank API.
Today, Token continues to build out its stack of open payment and data services, which are already powering a range of corporate and consumer use-cases, lowering the cost of digital payments across Europe and delivering unrivalled breadth of API connectivity. Inaugural open payment use-cases include funding an account, paying-off a credit card, paying a utility bill and other one-off payments. Complimentary open data use-cases include accounting package integration, credit risk analysis and cash flow management, plus a host of additional use-cases which leverage value-added functionality, are already starting to emerge.
“The market’s appetite for open payments accelerated dramatically last year as more merchants and payment providers have tuned into the cost and efficiency gains that they offer,” comments Todd Clyde, CEO, Token. “Token’s payment volumes have more than doubled every month since March and our platform is now processing live transactions through PSD2 APIs from over 600 banks in 14 countries across Europe. This Series B investment reconfirms Token’s leadership in the open payments space and will ensure our platform development continues at pace.”
Yoshitaka Kitao, Director & Chairman of SBI Investment, comments: “The combination of Token’s unrivalled bank connectivity and depth in payment services clearly marks the company out as a market leader. We believe it has continued to outperform the competition throughout the year and has a clear roadmap for development in 2021. We’re very excited to be part of Token’s mission to equip the key players in the payments market with open payments capabilities.”
Gen Tsuchikawa, CEO and Chief Investment Manager for Sony Innovation Fund (SIF) and Chief Investment Officer for Innovation Growth Ventures (IGV), said: “Through our Innovation Growth Fund we invest in companies that develop innovative and scalable technologies for the world’s new and emerging ecosystems. Token offers a credible alternative to card and wallet payments while helping merchants, PSPs and banks offer streamlined UX’s that deliver better payment experiences for customers. This investment adds to our growing FinTech portfolio that we’ve been steadily building, and we look forward to working with the Token team in 2021 and beyond.”
Token’s customers include BNP Paribas, and HSBC which recently launched its fast and secure alternative to online payments, HSBC Open Payments . Other recent announcements include the European PSP Contis , the Banking-as-a-Service provider OpenPayd , the popular Italian messaging app UpCo , and personal finance management tool Money Dashboard .
-ENDS-
About Token
Token is an open banking payments platform driving the shift from traditional payment methods to bank payments with best-in-class, Pan-European bank connectivity, data and compliance capabilities. With Token’s complete toolkit, merchants, PSPs and banks create new capabilities and revenue streams through our broadest, Pan-European connectivity to over 3,000 banks. Token is both bank and developer-friendly, and multi-standard by design.
Token Pay offers the simplest way to bypass traditional methods and accept faster, lower cost bank payments. Token Pay provides secure, unified access to banks in Europe to initiate real-time account-to-account payments straight from apps and websites. All from a single interface.
Token has offices in London, San Francisco and Berlin. Token.io Limited is authorised as an AISP and PISP by the Financial Conduct Authority (FCA) in the UK. Token GmbH is in the final stages of coordination with the German Federal Financial Supervisory Authority (BaFin) to receive its license in Germany.
For further information, please consult: www.token.io or follow us on Twitter and LinkedIn.
About SBI Investment
SBI Investment is one of Japan's leading venture capital firms, focusing on the creation and cultivation of key industries for the 21st century. SBI’s investment portfolio has expanded to include core technologies such as 5G, IoT, big data and now open payments.
About Sony Innovation Fund by IGV
Sony Innovation Fund by Innovation Growth Ventures (IGV) is a venture capital fund established in 2019 by Sony Corporation, Daiwa Capital Holdings Co., Ltd. and external limited partners. As one of Sony Group’s venture investment programs, IGV invests in mid to late-stage startup companies across Japan, the U.S., Europe, Israel and India.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210127005393/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Takeda’s ORZEYFUL (oveporexton) Launches Simultaneously in Japan and China Giving Physicians First Access to Prescribe Novel Orexin Agonist to Patients with Narcolepsy Type 115.10.2026 02:30:00 CEST | Press release
− ORZEYFUL is now available in Japan and China following approvals within a month of each other by China’s National Medical Products Administration (NMPA), the U.S. Food and Drug Administration (FDA) and Japan’s Ministry of Health, Labour and Welfare (MHLW) − Discovered by Takeda scientists in Japan, ORZEYFUL is the lead medicine in Takeda’s orexin franchise, with multiple programs for sleep-wake disorders and conditions where orexin biology plays a role − ORZEYFUL set to launch next month in the U.S., following completion of DEA scheduling; Health Authority submissions underway worldwide Takeda (TSE:4502/NYSE:TAK)announced today that ORZEYFUL (oveporexton) is now available in Japan and China for the treatment of narcolepsy type 1 (NT1), providing first access to clinicians to prescribe treatment with the new class of medicine. ORZEYFUL is a first-in-class orexin receptor 2 (OX2R) agonist, in tablet form, designed to treat the underlying orexin deficiency associated with NT1. “We’re ex
Celltrion to Spotlight Subcutaneous (SC) Infliximab (Remsima™ SC) and Broader IBD Portfolio at UEG Week 202615.10.2026 02:10:00 CEST | Press release
Celltrion to showcase its broad IBD portfolio, including Remsima™ IV, Remsima™ SC, the newly launched Remsima™ IV Liquid formulation, Steqeyma™ and Yuflyma™Symposium and Meet the Experts sessions to highlight long-term clinical evidence and real-world experience with subcutaneous (SC) infliximab (Remsima™ SC) across different IBD patient scenarios Celltrion, Inc. (KRX:068270) announced its participation in United European Gastroenterology (UEG) Week 2026, in Barcelona, Spain (Oct. 17-20), highlighting its inflammatory bowel disease (IBD) treatment portfolio, led by Remsima™ SC (subcutaneous infliximab). Celltrion will showcase its comprehensive infliximab portfolio, comprising Remsima™ intravenous (IV) and subcutaneous (SC) formulations, as well as the Remsima™ IV liquid formulation launched in Europe earlier this year.1 Additionally, the company will highlight its broader IBD portfolio, including SteQeyma™ (ustekinumab) and Yuflyma™ (adalimumab), reflecting its continued efforts to ex
ProcureTEX Returns for Its Second Year, Bringing AI and Best-of-Breed Procurement Technology to Amsterdam14.10.2026 18:26:00 CEST | Press release
Founding partners Beroe, Keelvar and Zip bring back the community-driven event with a practitioner-shaped agenda spanning real-world AI use and the future of procurement ProcureTEX, the community-driven event for best-of-breed procurement technology, returns for its second year on November 3, 2026, at Circa in Amsterdam. Following its London debut in 2025, the event sharpens its focus on how AI is reshaping procurement. It will bring together over 250 procurement leaders and digital transformation teams from large enterprises, with vetted best-of-breed technology providers, to see AI agents and interoperable tools working together on real enterprise challenges. Co-founded by Beroe, Keelvar and Zip, the event is built on the belief that the future of procurement isn’t a monolithic all-in-one suite, but an ecosystem of best-of-breed tools working together. It is designed for procurement and enterprise leaders seeking scalable, modern solutions, whether they’re driving transformation, fru
eM Client 11 Launches: A European Outlook Alternative Bringing AI Freedom, Digital Sovereignty, and Next-Generation Productivity14.10.2026 18:16:00 CEST | Press release
eM Client, the European developer of the popular email and productivity application used by millions worldwide, today announced the release of eM Client 11, its most significant update yet. The new version introduces advanced AI capabilities, and major productivity improvements, strengthening its position as an independent alternative to Microsoft Outlook. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261014945464/en/ eM Client 11 main window AI Without Vendor Lock-In eM Client 11 introduces a powerful AI Assistant that enables users to search, summarize, organize, and manage emails using natural language. Additional features include personalized AI writing, context-aware quick replies, automatic task and event detection, and AI-powered email rules. Unlike traditional AI integrations, eM Client 11 supports Bring Your Own Key (BYOK), allowing organizations to connect compatible AI providers and models of their choice. The re
iQmetrix and Stratus HR Partner to Give Wireless Retailers a Complete, Outsourced HR Department14.10.2026 17:15:00 CEST | Press release
New integration connects the employee lifecycle to the store – new hires, terminations, rehires, position moves, and security-role updates flow straight into the POS, with payroll, benefits, and compliance handled by Stratus HR’s certified experts. Stratus HR, a full-service human resources outsourcing provider, today announced a partnership with iQmetrix, the Intelligent Commerce Operating System for telecom. As a Professional Employer Organization (PEO), Stratus HR becomes the complete, outsourced HR partner for wireless retailers on iQmetrix – payroll, benefits, compliance, and on-call HR experts – so retail teams stay focused on selling and serving customers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261014178512/en/ Fully integrated with iQmetrix, Stratus HR’s custom-built technology connects the employee lifecycle to the store: new hires, terminations, rehires, position moves, and security-role updates flow straig
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom