Swedish fintech Open Payments secures €3M

Swedish open banking platform Open Payments has raised €3M in a funding round led by Alfvén & Didrikson, with participation from Industrifonden and other existing investors. The funding will support the company’s continued growth, enable product development, and enable it to expand further across Europe.

Open Payments' platform combines Open Banking API connections with ISO-based payment integrations, enabling the management of domestic and cross-border payments, account reconciliation, and cash management in an integrated format. It is formatted by embedding these functionalities into businesses’ ERP systems, payment providers and other financial applications.

In 2024, Open Payments achieved full coverage of the Dutch B2B banking landscape, laying the foundation for broader European expansion. Recent product launches include cross-border payment capabilities offering lower exchange rates, real-time access to rates for streamlined bookkeeping, and same-day settlements embedded directly in the financial systems.

“We developed Open Payments to simplify banking integrations by aggregating multiple bank APIs into one single API,” commented Louise Brandt, CEO and founder of Open Payments.

“This approach enables businesses to innovate and improve their financial operations in ways that weren’t possible before.” The company's clients include ERP systems, treasury systems, and accounting providers including Monitor ERP, Treasury Systems, Juni Technologies, Bjorn Lunden, and Speedledger. 

“We believe open banking has great potential in the B2B context and we see Open Payments as the market leader in the Nordics, particularly in the ERP segment.” added Måns Alfvén, Partner at Alfvén & Didrikson. “We are very impressed by Open Payments’ team and we’re thrilled to support their journey and help them scale to new heights.”

Alfvén & Didrikson, together with Industrifonden, will become the largest shareholders in the company. Other existing owners include Sony Financial Ventures, Global Brain, Luminar Ventures and Brightly Ventures.