Fintech Yetipay secures £3.5m funding

London-based fintech Yetipay has secured £3.5m in new funding because it appears to develop its all-in-one funds providing.

Based in 2018, Yetipay offers fee processing providers and point-of-sale terminals to companies, with purchasers together with Brewdog, Pho and Soho-based restaurant Grasso.

The brand new funding consists of £1.75m from Berlin-based fintech group re:cap, making it the primary firm to obtain funding from the German agency’s lately introduced €125m (£108m) credit score facility backed by HSBC Innovation Banking and Avellinia.

Yetipay additionally raised £1.7m in an fairness funding from angels together with Thoma Bravo’s Paul Statham and Mark Blandford of the Blandford Household Workplace.

“We centered on elevating the minimal quantity required and deciding on buyers that deliver helpful deep funds trade expertise, mixed with revolutionary non-dilutive funding from re:cap,” mentioned Oliver Pugh, Founding father of Yetipay.

Pugh mentioned the corporate wanted a strategic strategy to elevating funds to tackle main incumbents equivalent to SumUp and Worldpay.

“We’re in a David vs Goliath battle with our bigger opponents, the place their huge OPEX commitments current a major alternative for our nimble, revolutionary and customer-centric strategy. We’ve stayed lean, raised capital in a sustainable non-dilutive means, and delivered merchandise that supply actual advantages – there’s extra to come back in 2025,” Pugh mentioned.

In line with Yetipay, the brand new funding follows the corporate will increase its annual income by seven instances.

“We’re thrilled to again yetipay as our first buyer within the UK,” says Christian Luecke, chief industrial officer at re:cap.

“Their skill to generate important traction with a lean, centered staff – whereas delivering a really sticky product to a clearly outlined market – makes them an distinctive companion and an thrilling firm to work with.”

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