Lithuanian fintech kevin. raises $65M in Series A funding
The Vilnius-based fintech startup kevin. has raised $65 million in Series A funding. The round was led by Accel, with participation from Eurazeo and all existing investors, including OTB Ventures, Speedinvest, Open Ocean, and Global Paytech Ventures, FinSMEs reports.
- Founded in 2018 by Pavel Sokolovas and Tadas Tamosiunas, kevin. provides an advanced A2A (account-to-account) payment infrastructure to replace card transactions. The startup’s solution is aimed to improve customer experience and conversion while also saving money for merchants.
- The uniqueness of kevin.’s A2A in-store payments solution lies in the fact that it does not require any changes on the merchant’s technical side. It uses existing POS terminal infrastructure and widely used and most intuitive NFC payment technology, Startup Lithuania explains.
- Among additional investors in the fresh round are Harry Stebbings, Founder of 20VC, Ilkka Paananen, CEO & Co-founder of Supercell, Amitabh Jhawar, Ex-CEO of Venmo, and other angel investors.
- The current funding follows a $10 million seed round in 2021 and brings kevin.’s total funding to $77 million.
- kevin. has a team of 170 employees in 30 countries, which the company wants to double using the fresh funds. The startup also plans to spend the funds on expanding operations and business reach.