Sweden's B2B payments accelerator, Open Payments, secures €3 million in funding to speed up transactions

In a significant move for the Nordic region's B2B banking landscape, Open Payments, a Swedish Open Banking platform, has successfully secured €3 million in a funding round. The round was led by Alfvén & Didrikson, with Industrifonden also participating.

Founded in 2017, Open Payments was established with a mission to address the complexities and inefficiencies faced by businesses when integrating multiple banking services. The platform offers a solution that encompasses management of domestic and cross-border payments, account reconciliation, and cash management.

Måns Alfvén, partner at Alfvén & Didrikson, has expressed his confidence in Open Payments, viewing the company as the market leader in the Nordics, particularly in the ERP segment. He reaffirms his belief in the great potential of Open Banking in the B2B context.

Emil Ahlanzberg, investment associate at Alfvén & Didrikson, will join the board of Open Payments, further strengthening the company's strategic direction.

Open Payments has already achieved full coverage of the Dutch B2B banking landscape and boasts a diverse clientele that includes ERP systems, treasury systems, accounting providers, and several specific companies such as Monitor ERP, Treasury Systems, Juni Technologies, Bjorn Lunden, and Speedledger.

One of the platform's latest developments is the launch of cross-border payment capabilities. This new feature offers real-time access to rates for streamlined bookkeeping and embeds same-day settlements directly into financial systems.

With the recent funding, Open Payments plans for broader European expansion. The platform combines Open Banking API connections with ISO-based payment integrations, providing a seamless and efficient banking solution for businesses.

Alfvén & Didrikson, together with Industrifonden, will become the largest shareholders in Open Payments, subject to regulatory approval. The venture capital firm is impressed by Open Payments' team and is excited to support their journey and help them scale to new heights.

Open Banking continues to revolutionise the financial sector, and with Open Payments' innovative approach, businesses across Europe stand to benefit from a more streamlined and efficient banking experience.

Sweden's B2B payments accelerator, Open Payments, secures €3 million in funding to speed up transactions