Token’s $40m Series C financing round
Torch Partners has acted as exclusive financial adviser to Token, a leading European Open Payments platform, on its Series C fundraise of $40m led by Cota Capital and TempoCap. Additional funding was provided by MissionOG, Element Ventures and PostFinance and existing investors Octopus Ventures, Opera Tech Ventures and SBI Investments.
Trusted by over 80 payment service providers, gateways, banks and large merchants, Token is the clear market leader driving the shift from traditional payment methods to faster, fairer, frictionless account-to-account payments. Token offers best-in-class Open Payment and data connectivity in Europe, representing over 210 million potential end-users of Open Payment services and over €13tn in customer deposits. With a complete Open Payment toolkit and enterprise-first approach, Token has developed deep functionality that enables other players in the existing payment value chain to create new revenue streams and bring direct bank payments to their customers. Token further provides access to aggregated bank account and transaction data for smarter onboarding, deeper insights, and instant authentication.
The growth investment will be used to continue building out Token’s Open Payments connectivity, increase expansion into Europe and further develop its differentiated platform for enterprises and payment service providers.
This transaction further demonstrates Torch Partners’ expertise and track record in advising leading fintech companies on growth equity financing.
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