Volt, a real-time payments infrastructure company, has secured $60m in Series B funding to fuel its expansion into new international markets, including APAC and the Americas, and to drive product development in existing markets across Europe, the UK, and Brazil.
The funding will also facilitate product development in existing markets across Europe, the UK, and Brazil. This investment comes as a significant vote of confidence in the UK’s fintech sector, following Volt’s participation in London Tech Week.
The Series B funding round was led by IVP, a Silicon Valley-based firm with a track record of backing successful companies like Coinbase, Slack, and Supercell. CommerzVentures, a new investor, also participated in the funding round alongside existing funds such as EQT Ventures, Augmentum Fintech, and Fuel Ventures.
IVP general partner Eric Liaw said: “True to its name, Volt is creating an electrifying global network for instantaneous, secure and cost-effective A2A payments.
“The wisdom and experience of the founders accrued at transformative payments companies, coupled with the talented employees at the company, strongly position Volt to give merchants and payment partners the lightning-fast, best-in-class payment solution they’ve wanted and needed.”
With its presence already established in the UK, Europe, and Brazil, Volt has ambitious plans to introduce its cutting-edge real-time payments technology to the APAC region, with an Australian market entry scheduled for later in 2023.
Additionally, the company aims to expand its footprint in the US market. The Series B investment will enable Volt to build a robust network of acceptance and global reach, while also enhancing its product suite to include cash management solutions.
The company plans to strengthen its product and engineering teams significantly, emphasizing a commitment to continuous innovation for its customers.
Since its inception in 2019, Volt has emerged as a leading global provider of real-time payments. The company has revolutionized the industry by consolidating new generation account-to-account (A2A) payments infrastructure into a single access point.
This latest investment further accelerates Volt’s momentum, following recent successes such as securing a global partnership for real-time payments with Worldpay from FIS, the world’s largest merchant acquirer. Volt has also joined forces with Shopify, becoming the first open banking provider for the renowned commerce platform.
Volt CEO Tom Greenwood said: “Testament to our progress and our vision for real-time payments everywhere, we’re thrilled to be working with our new partners at IVP, joining their portfolio of leading global brands. We’re staying focused, and humble, as we embark on this next chapter.”
