MPT PAY secures £1.5m seed follow-on investment from KIWI Tech to develop new financial products.
KIWI Tech backed the latest funding round to support the creation of payment solutions such as the Pay & Go App.
MPT PAY builds financial products and verification systems designed to simplify compliance and banking procedures for international businesses. The company provides unified financial ecosystems that enable European and non-European firms to conduct cross-border transactions.
MPT PAY has secured £1.5m in a seed follow-on investment from KIWI Tech, extending its valuation to $10m. The fresh capital will be directed towards refining current offerings and developing new financial products, including the Dynamic Escrow Payment Protocol and the Pay & Go App.
The startup focuses on streamlining compliance processes and payment procedures for internationally oriented companies. By offering EU IBAN accounts and pre-compliance verification, MPT PAY aims to reduce business account setup times while facilitating instant business payments and multi-currency SWIFT transfers.
Use of funds
- 01Continue product development
- 02Fund research and development