SurePay raises €12.2 mn to boost the company’s international expansion

By Joy Dumasia

SurePay, inventor and leading provider of Confirmation of Payee (CoP) in the UK and Benelux, raised a €12.2 million round led by Connected Capital with Iris Capital, joining Rabo Frontier Ventures to boost the company’s international expansion.

The funding will support hiring new business development teams in Germany, the UK, a cross border team, and new IT experts to scale the technology platform and further develop new customer solutions.

The company plans to launch bulk payments related products, cross border payments, and expand SurePay PayID, a Pay Your Contacts solution, to offer new methods of secure and seamless payment services to its customers. The CoP for Organisation’s resolution, based on its best-in-class Confirmation of Payee algorithm, will thus be made accessible across Europe.

SurePay is already a leader in the UK and its Dutch home market, these being the first countries to implement a nationwide CoP approach to reducing payment fraud. Both new investors specialise in scaling B2B SaaS solutions internationally and help SurePay extend its leading position as a multi-country technology platform focused on reducing payment fraud.

David-Jan Janse, CEO and Co-Founder of SurePay, said: “We are on a mission to protect both our clients and their customers against the growing threat of fraud worldwide, giving them the reassurance that their payments are going to the intended recipient also cross-border and multi-domestic. We are very excited to welcome Connected Capital and Iris Capital as our new shareholders. Together with Rabo Frontier Ventures, their knowledge and experience will position us on a scale-up trajectory in important growth markets across Europe and connect to global standards.”

Recently, IBS Intelligence reported that SurePay, the leading Confirmation of Payee provider, has announced that Triodos Bank UK, one of the top players in ethical, sustainable banking, will implement its full-service Confirmation of Payee solution.