Yetipay secures £3.5m in debt and equity financing to expand its payments platform
The funding round includes debt financing from re:cap and equity from prominent angel investors.
Yetipay provides all-in-one payment platforms and low-cost terminals for retail and hospitality businesses. Headquartered in London, the company processes hundreds of millions in transactions annually.
London-based fintech Yetipay has secured £3.5m in a funding round comprising debt and equity to accelerate its expansion and product development. The capital includes a debt facility of up to £1.8m from Berlin-based re:cap, alongside £1.7m in equity from a group of angel investors.
Founded in 2017 by Oliver Pugh, Yetipay has evolved from a table-ordering app into a platform-agnostic payments company. The firm plans to use the new funds to expand its all-in-one payments platform and introduce new features such as expense cards and integrated bank accounts for its hospitality and retail customers.
The company has experienced significant growth, reporting a sevenfold increase in annual recurring revenue to reach £4.7m while processing nearly £500m in transactions annually.
From the founder
"We focused on raising the minimum amount required and selecting investors that bring valuable deep payments industry experience, combined with innovative non-dilutive funding from re:cap"
Oliver Pugh
Founder and CEO at yetipay
Investor perspective
"We’re thrilled to back yetipay as our first customer in the UK"
Christian Luecke
Chief Commercial Officer, re:cap
Use of funds
- 01Continue product development
- 02Expand into international markets
