Kashimi raises $1.36M to expand alternative payment infrastructure

Lithuanian startup Kashimi, which develops alternative payment infrastructure for regulated and licensed financial institutions globally, has secured a pre-seed investment of $1.36 million. The new funding will back expansion in the European and UK markets and advance entry into the US, building on steps initiated at the end of 2024.

Kashimi is a fintech infrastructure provider offering open banking-powered, account-to-account (A2A) payment solutions. Its unified API connects institutions to hundreds of banks instantly, enabling secure, real-time A2A payments with built-in regulatory compliance (e.g., PSD2) and seamless scalability across markets.

Designed for financial institutions, fintechs, PSPs, wallets, remittance platforms, FX services, and treasuries, Kashimi enables rapid deployment, launching Pay by Bank solutions in weeks rather than months, while lowering operational costs and improving conversion with smart UX tools and enterprise-grade reliability.

Benas Pavlauskas, Co-founder and CEO of Kashimi, explains:

Alternative payment methods, which started to appear in Europe and the UK following the introduction and implementation of Open Banking regulations seven years ago, are finally gaining momentum. Customers are increasingly accustomed to these solutions, and it is the right time for various financial institutions - banks, electronic money institutions, or others - to expand their merchant offerings. The US is introducing a similar concept and actively promoting the development.

The round was co-led by venture capital funds Coinvest Capital and US-based Impellent Ventures, joined by Plug and Play Tech Center and international business angels. Coinvest Capital’s share in the investment amounts to $749,985.

Impellent Ventures expressed excitement about partnering with the Kashimi team to advance frontier tech in open banking across Europe and the US.

Phil Beauregard, Managing General Partner at Impellent Ventures, shared:

We think the crew is comprised of some of the most innovative and experienced thinkers and tinkerers in the space - and we can’t wait to see what they cook up in order to create value for their customers and stakeholders alike. Combined with being our first foray with Coinvest Capital, we couldn’t be more amped up for the future of this one.

Viktorija Trimbel, Managing Director of Coinvest Capital, added:

Alternative payment methods are not a niche anymore. Merchants are eager to adopt new payment methods, and customers want to control their spending while feeling secure. For payment service providers, alternative payments are the next frontier; however, success favors solution providers who demonstrate competence, a broad vision, and strong ambition. Kashimi payment initiation infrastructure stands out for its convenience and completeness. This segment is gaining momentum in the US, and Kashimi has a great opportunity to ride the wave of growth. We are happy to have experienced US investors joining the round

Kashimi has been selected to join the six-week GOAL program run by its investor, Plug and Play Tech Center, giving the startup a key opportunity to gain valuable experience in the US market.

Kashimi’s cutting-edge payment infrastructure showcases how Lithuanian technology can compete on a global scale, Povilas Žinys, Director at Plug and Play Lithuania, noted:

We see tremendous potential for their solution in international markets and are proud to support their journey through Plug and Play’s global network. We also expect the GOAL program to help Kashimi achieve its global expansion goals.

Operating for less than a year, Kashimi has built a team of 10 seasoned IT engineers specialising in open banking and already started integrations with its first clients.