Swedish Fintech Open Payments Raises €3M Seed for Open Payments Infrastructure

Open Payments, a Swedish fintech company, announced a €3 million (approximately $3.5 million) seed funding round in August 2020, led by Industrifonden with participation from existing investor Brightly Ventures. The company focuses on building open payments infrastructure, providing API-based solutions that enable seamless payment processing in line with Europe's evolving open banking landscape. The funding will support the development and scaling of the platform's capabilities.

Open Payments operates in a growing European market driven by PSD2 regulation, which mandates open access to payment account data and payment initiation services. The investment reflects continued European investor appetite for infrastructure-layer fintech that enables embedded finance use cases. By providing standardized payment APIs, Open Payments aims to reduce the complexity for businesses looking to integrate payment services into their platforms and applications.