Kevin., a Lithuanian-based account-to-account payment startup, has raised $65 million in a Series A funding round led by Accel.
Eurazeo, OTB Ventures, Speedinvest, OpenOcean, Global Paytech Ventures, and a host of angels joined the round, which comes just six months after a $10 million seed.
Founded in 2018, kevin. is looking to take advantage of open banking and challenge the card networks with its A2A offering.
The startup already supports 6000 merchants across 12 markets for web and mobile payments. Now it is stepping into POS terminal payments in physical stores by introducing what it calls the first-ever NFC A2A payments offering that requires no changes on the merchants' technical side.
With the new funding in place, kevin. is looking to almost double the size of its 170-strong team and launch into new markets.
Tadas Tamosiunas, CEO, kevin., says: "Given the fact that the implementation of the A2A in-store payments solution is quick and cost-effective, we forecast rapid roll-out and scale.
"By the end of this year, we aim to secure 35% coverage of POS payment terminals across Europe and look to achieve more than 85% by the end of 2023. This is equivalent to the current coverage of major card schemes."