CA-TOKEN
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
Bureau Veritas Named Accredited EcoVadis Consulting Partner22.1.2026 11:30:00 CET | Press release
Bureau Veritas, a global leader in Testing, Inspection, and Certification services (TIC), has been named as an Accredited Consulting Partner by EcoVadis, the global standard for resilient, sustainable supply chains. Accredited Consulting Partners are formally equipped to help businesses complete sustainability assessments, review scores, and improve Environment, Labor and Human Rights, Ethics, and Sustainable Procurement practices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260122971773/en/ Accredited Consulting Partners are carefully selected based on their experience and expertise and must complete rigorous training on EcoVadis’ methodology and assessment process through the EcoVadis Academy. To qualify, partners must demonstrate a deep understanding of local environmental, ethical and human rights regulations and issues, and have completed the EcoVadis assessment for their own business. “Becoming an EcoVadis Accredite
Nordic Firms Seek Sovereign Clouds for Compliant Modernization22.1.2026 10:00:00 CET | Press release
Enterprises reshape cloud strategies around data sovereignty, sustainability requirements and AI-native operations, ISG Provider Lens® report says The multi public cloud services market in the Nordics has entered a defining phase as enterprises shift from selective use of the cloud to comprehensive, compliance-driven and AI-native multicloud operating models, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm. The 2025 ISG Provider Lens® Multi Public Cloud Services report for the Nordics finds that cloud adoption across the region has moved beyond basic workload migration as companies embrace sovereign cloud models that guarantee jurisdictional control and encryption frameworks. This change reflects the impact of tightening EU regulatory frameworks that require data residency, transparency and responsible AI adoption in regulated industries and the public sector. As a result, e
Vonage Network APIs Pave the Way for Freenow by Lyft to Advance Urban Mobility Innovation22.1.2026 08:00:00 CET | Press release
Freenow adopts Vonage APIs to access network capabilities, strengthening fraud prevention through faster, verified connections with drivers for millions of riders Vonage, a part of Ericsson, and Freenow by Lyft, a leading taxi and multi-mobility app in Europe, have expanded their partnership with the launch of Vonage Silent Authentication API for customers based in the U.S. Vonage Network APIs enable Freenow by Lyft to tap into real-time network data and insights, helping prevent fraud through seamless user verification, ensuring reliable, efficient, and secure interactions for its customers and drivers. Network intelligence is becoming a critical layer of defense in the transportation space as fraud threats become more sophisticated and targeted. Enterprises worldwide lost 7.7% of their annual revenue on average due to fraud over the past year, representing an estimated $534 billion in losses.¹ With scam/authorization fraud, synthetic identity fraud, and account takeover as the leadin
Daiichi Sankyo Appoints New Leadership at the Daiichi Sankyo Translational Research Center Europe22.1.2026 07:30:00 CET | Press release
Daiichi Sankyo (TSE:4568) has appointed Veronika Rozehnal, Ph.D., to succeed Jürgen Müller, Ph.D., as the Head of the Translational Research Center Europe. Dr. Jürgen Müller will retire after nearly 30 years of research work at Daiichi Sankyo. Under his leadership, the Translational Research Center Europe, previously called the Tissue and Cell Research Center Munich, has grown from three to 40 researchers since it was founded in 1997 and has become an internationally recognized institution that plays a strategic role in the global innovation process of Daiichi Sankyo. Dr. Veronika Rozehnal joined Daiichi Sankyo in 2009 and has held various positions at the Translational Research Center Europe in addition to spending three years at the Daiichi Sankyo R&D Center in Tokyo. Dr. Rozehnal graduated from Ernst-Moritz-Arndt University of Greifswald, Germany with a Ph.D. degree in Clinical Pharmacology. “Jürgen Müller has made significant scientific contributions that have helped Daiichi Sankyo
Azafaros Announces Key Scientific Oral and Poster Presentations on Nizubaglustat Accepted for WORLDSymposium™ 202622.1.2026 07:00:00 CET | Press release
Five presentations will showcase nizubaglustat’s therapeutic potential in Lysosomal Storage Disorders. Nizubaglustat is currently being tested in two global Phase 3 studies for Niemann-Pick type C disease and GM1/GM2 gangliosidoses which are currently recruiting. Azafaros will host a satellite symposium on nizubaglustat on Day 2 of the symposium discussing the Phase 3 studies. WORLDSymposium™ 2026 takes place from February 2 to 6 in San Diego, California. Azafaros, a company building a portfolio to become a leader in lysosomal storage disorders with the goal of addressing neurological symptoms, today announced that its lead asset, nizubaglustat, will feature in five scientific presentations accepted at the WORLDSymposium™ 2026, the leading global conference on lysosomal diseases, taking place in San Diego, California, USA between February 2-6. The company’s conference activities include: Oral Presentations (including Poster numbers 134 and 29-C) Long-term data from a Phase II study wit
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