Series A17 June 2021

Volt raises £16.8m in a Series A round led by EQT Ventures to fund international expansion.

EQT Ventures led the financing round alongside participation from Augmentum Fintech and Fuel Ventures.

£16.8MSeries A

Volt builds global infrastructure for real-time payments, providing an open gateway that allows merchants and payment service providers to process account-to-account transactions securely. The company operates across the UK, Europe, and Brazil.

Volt has secured £16.8m in a Series A financing round led by EQT Ventures to support product development and international expansion. Existing backers Augmentum Fintech and Fuel Ventures also contributed to the raise alongside industry angel investors.

The transaction marks a notable milestone for the open banking sector, representing the largest Series A round recorded for the industry to date. The proceeds will be deployed to scale the company presence into new territories and further develop its platform.

The business provides a single point of access for account-to-account payments, linking over 5,000 banks throughout the UK and European Union. Experienced payments figures Robert Kraal and Gabriel de Montessus are joining the board as chairman and non-executive director respectively.

From the founder

"Instant payments are set to dominate the global payments landscape and will become the new normal. It’s an exciting time to be in payments, and we are delighted to have secured such a significant funding round, and the backing of an influential group of investors. We look forward to working with our new partners at EQT Ventures as we build out our global vision."

Tom Greenwood

CEO at Volt

Investor perspective

"The pandemic has created an inflection point in the payments sector; faced with unprecedented online demand, merchants and PSPs are re-assessing the technical infrastructure that underpins their business. Volt’s team of payments experts are creating meaningful change and building a new category in instant payments, forging the path by bringing new real-time networks to a single switch. We are delighted to be working with Tom and the team."

Tom Mendoza

Partner, EQT Ventures