Swedish payments FinTech Zimpler is planning to expand following a new round of equity funding, the company announced Tuesday (March 29).
“The investment will enable Zimpler to further drive its exponential growth journey and accelerate the company’s commercial development by broadening its customer base and investing in developing new customer verticals,” the Stockholm company said.
Zimpler did not reveal the amount of the funding.
See also: Report: A2A Payments Put Merchants In Control Of The Customer Relationship
Zimpler offers instant account-to-account (A2A) payment solutions for merchants in sectors like travel, eCommerce and creator economy. It also recently launched a B2B A2A solution, designed to simplify incoming and outgoing payments for merchants.
The company said the funding comes amid a busy time for Zimpler, which recently marked its 10-year anniversary and its best performing year, with transaction volumes growing by 176% as it entered new markets and verticals.
The round was led by Nordstjernan Growth, an extension of a Swedish investment house focused on long-term quality growth.
“Nordstjernan’s investment is an endorsement of our mission to simplify transactions between businesses and people anywhere through simple and instant A2A transactions,” said Johan Strand, CEO of Zimpler.
“We believe that A2A payments are the future, and we can already see more and more sectors appreciating their value and adapting to them.”
Read more: Real-Time Payments Expected to Double in 2022
The growth of A2A payments comes amid a boom in real time payment growth. Speaking to PYMNTS earlier this year, Elena Whisler, senior vice president at The Clearing House (TCH), said real-time payments volume will soar this year and the years to come.
Our research has shown real-time disbursements made up 17% of all disbursements last year, up from 5.7% in 2020. In addition to the growth in electronic payment methods, Whisler said, “growth is coming from the availability of more real-time methods for businesses. More financial institutions are enabling the offerings as well.”
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