Open Payments

Open Payments is a Swedish fintech company founded in 2017 by Louise Brandt and Jonas Kjellin. The firm operates in the business-to-business (B2B) payments sector, providing an open banking platform that simplifies the integration of financial services into business-critical systems. It targets clients such as Enterprise Resource Planning (ERP) providers, accounting firms, and treasury management systems. The company has secured $11.2 million in total funding across four seed rounds, with notable investors including Industrifonden, Alfvén & Didrikson, Luminar Ventures, and Global Brain.

The core of the business is a single Application Programming Interface (API) that connects multiple banks, eliminating the complexity of diverse integrations for its clients. This platform enables businesses to embed financial functionalities directly into their own applications, under their own brand, while maintaining control over the user journey. The business model is a blend of traditional FinTech and a BigTech platform approach, offering modularity and extensibility for developers. Open Payments generates revenue by providing these API services, which facilitate a range of financial operations.

The platform's services are designed to streamline financial management for businesses. Key features include the ability to initiate domestic and cross-border payments, automate account reconciliation, and gain real-time visibility into cash flow. For cross-border transactions, the service offers lower exchange rates and same-day settlements by removing intermediaries. The platform also supports batch payments for processing large volumes of transactions, such as supplier or salary payments, and recurring payments for subscriptions. Adhering to PSD2 and GDPR standards, the platform ensures security and compliance in all transactions.

Keywords: B2B payments, open banking API, fintech, financial management systems, embedded finance, payment initiation, account aggregation, cross-border payments, API platform, ERP integration, treasury systems, automated reconciliation, cash flow management, PSD2 compliance, payment solutions, batch payments, financial data API, SaaS, Stockholm, Louise Brandt