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
Visa Opens the Door to AI-Driven Shopping for Businesses Worldwide8.4.2026 18:00:00 CEST | Press release
Part of the Visa Intelligent Commerce portfolio, Intelligent Commerce Connect will enable more ways for agents to pay and merchants to accept agentic transactions in a single integrationCurrently in pilot with select partners including Aldar, AWS, Diddo, Highnote, Mesh, Payabli, Sumvin, and rolling out to more partners this year Visa Inc. (NYSE: V) today unveiled Intelligent Commerce Connect, a new solution that makes it easier for businesses to connect to and participate in AI-powered commerce. Intelligent Commerce Connect acts as a network, protocol, and token vault-agnostic ‘on ramp’ to agentic commerce for agent builders, merchants, and enablers. As consumers increasingly rely on AI agents to make purchases, businesses – whether they are building agents, selling to them, or processing transactions – need a simple way to get started. Intelligent Commerce Connect, part of the Visa Intelligent Commerce portfolio, meets that need. Through a single integration via the Visa Acceptance Pl
Sumitomo Corporation, SMBC Aviation Capital, Apollo and Brookfield Complete the Acquisition of Air Lease Corporation8.4.2026 15:13:00 CEST | Press release
Sumitomo Corporation, SMBC Aviation Capital, Apollo-managed funds (“Apollo”) and Brookfield today announced that they have completed the previously announced acquisition of Air Lease Corporation (“Air Lease”) and have renamed the business Sumisho Air Lease Corporation (“Sumisho Air Lease”). This transformational transaction improves the financial position of the business with long term support and aviation expertise from co-investors Sumitomo Corporation, SMBC Aviation Capital, Apollo and Brookfield. Sumisho Air Lease’s strong foundation as an established aircraft lessor, supported by SMBC Aviation Capital’s industry‑leading capabilities as servicer, creates a platform with the scale and financial strength needed to meet the fast‑changing and increasingly complex requirements of airline customers. Sumisho Air Lease will also benefit from the deep expertise and long-standing commitment that both Sumitomo Corporation and SMBC Aviation Capital bring to the global aviation leasing sector.
Sitetracker Launches Scout, an Agentic AI Platform Purpose-Built for Critical Infrastructure8.4.2026 15:00:00 CEST | Press release
Sitetracker, the leading Asset Lifecycle Management platform for critical infrastructure, today announced the launch of Scout, its new Agentic AI platform designed to help infrastructure owners, operators, and contractors gain deep insights and drive automation within their operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260408923336/en/ Scout, ready for real work As your AI analyst and agent, Scout is ready to work on day 1. Scout provides clarity when decisions are forming and momentum when action is required. It surfaces risk, synthesizes information, and helps accelerate execution by connecting data and driving action. Scout creates operational intelligence and turns it into action all in a secure environment that protects data sovereignty. “Our customers are looking to create compounding competitive advantages,” said Giuseppe Incitti, Chief Executive Officer of Sitetracker. “Scout delivers by providing easy t
Westinghouse Hosts Annual VVER Fuel Forum with Customers8.4.2026 15:00:00 CEST | Press release
Westinghouse currently has fuel supply contracts with all the European VVER operators Westinghouse and MVM Paks Nuclear Power Plant (NPP) recently co-hosted the VVER Fuel Forum in Budapest to share insights and plans for the continued deployment of VVER-1000 and VVER-440 fuel in operating reactors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260408646373/en/ Participants to the VVER Fuel Forum Péter János Horváth, CEO of MVM Paks, welcomed all the participants, highlighting that Hungary is ending two decades of single supplier fuel dependency thanks to the agreement recently signed with Westinghouse to supply the VVER-440 NOVA E-6 fuel design. Six customers presented the progress made and positive outcomes achieved in the past years with the introduction of Westinghouse fuel into mixed cores with resident fuel in their reactors: Energoatom has extensive experience with Westinghouse VVER-440 and VVER-1000 fuel, currently u
Virica Biotech and FUJIFILM Biosciences Collaborate Under the Canada–Japan Co‑Innovation Program to Advance AAV Production Enhancers8.4.2026 15:00:00 CEST | Press release
Efficient production of Adeno-Associated Virus (AAV) vectors at scale for in vivo gene therapies remains a key bottleneck for broad patient access and sustainable manufacturing costs.Virica and FUJIFILM Biosciences will co-develop an off-the-shelf enhancer–media solution to boost AAV yields and process robustness in FUJIFILM Biosciences BalanCD® HEK293 system. Virica Biotech (“Virica”), a cell enhancer company specializing in Viral Sensitizers (VSE™) for viral vector manufacturing, today announced it is receiving advisory services and funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), under the Canada–Japan Corporate Co-Innovation Program for a collaboration with FUJIFILM Biosciences. The collaboration will focus on optimizing a VSE™ formulation for FUJIFILM Biosciences BalanCD HEK293 media to support academic and commercial AAV producers globally. AAV vectors are a cornerstone of in vivo gene delivery for gene therapies, but they re
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