Imburse secures strategic investment from Accenture Ventures

By Joy Dumasia

Accenture has invested, through Accenture Ventures, in Imburse, a cloud-based, payments-as-a-service enterprise platform that simplifies the way businesses worldwide access the global payments ecosystem.

The Series A funding from partners of DST Global was followed by existing investors Lakestar, Additional, Guidewire Software, Post Finance, SixThirty Ventures, Backbone Ventures, Accenture Ventures, Gramercy Ventures as well individual investors including Michael Vaughan, former Venmo COO.

Founded in Zurich, Switzerland, in 2018, Imburse works with global insurers, banks and other large companies to easily connect outdated legacy systems to the international payments ecosystem through a single connection using application programming interfaces (APIs).

Employing 32 staff from offices in Zurich, Lisbon and London, the four-year-old firm provides enterprises with a single integration to multiple payment providers and technologies around the globe.

 Imburse will join Accenture Ventures’ Project Spotlight — an engagement and investment program to connect technology startups with the Global 2000 to fill strategic innovation gaps. Through the program, Imburse will also have access to Accenture’s global innovation network and the opportunity to co-innovate with Accenture software engineers, system architects and payments experts.

Oliver Werneyer, Imburse’s CEO, says: “Businesses around the world are under immense pressure to digitalize their payments systems and to exceed customer expectations – however, the investment, time and resources required is, for many businesses, unjustifiable. Imburse and Accenture will work together to help businesses to fully optimize and future-proof their payment capabilities and leverage payments as a key strategic value driver.”

Recently, IBS Intelligence reported that Accenture announced that digital ID and payments platform Nuggets had been selected as part of Accenture’s FinTech Innovation Lab accelerator programme in London. Nuggets is a decentralised, self-sovereign ID platform that aims to offer organisations a safe and secure digital method of identifying employees while hosting its platform via Blockchain technology to help users maintain control of their own data.