Ivy, Instant Bank Payments Startup raises $7.7M in Seed Round Led by Creandum

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Ivy, Instant Bank Payments Startup raises $7.7M in Seed Round Led by Creandum
©  Ivy

Ivy, a cutting-edge API facilitating instantaneous bank payments, has successfully raised €7 million ($7.7 million) in a seed funding round spearheaded by renowned European venture capital firm, Creandum.

Ivy, a groundbreaking startup, has devised a solution to address the accumulating payment and transaction fees resulting from the involvement of card networks, gateways, and wallets in online transactions. By enabling merchants to accept instant bank payments directly at the checkout, the company aims to significantly reduce the intermediary transaction fees and enhance transaction speed.

Ferdinand Dabitz, co-founder of the startup, emphasized the transformative potential of their approach, stating, “In the next decade, trillions of dollars in payments will be made through banks instead of cards—a profound shift that Ivy will spearhead.” Dabitz also highlighted the global trend of over 60 countries implementing instant payment systems to facilitate this transition.


Their API is currently available across Europe, the United States, the MENA region, and the SEA region, offering a widespread solution for businesses. Creandum’s general partner, Simon Schmincke, expressed confidence in Ivy’s future, noting, “Account-to-account payments are just getting started. What began with Open Banking in Europe has now become a global movement, with payment infrastructures worldwide becoming increasingly robust. After evaluating various legacy players and startups in this domain, the startup’s product stood out with its exceptional performance across all crucial metrics, including conversion, adoption, and success rates. We believe the team has a winning proposition.”

While Ivy faces competition from prominent card schemes like Visa and Mastercard, Ferdinand Dabitz views A2A (account-to-account) companies as partners in the shared mission of redirecting transaction volumes away from traditional card schemes. The fintech also competes with innovative startups like Volt and A2A solutions such as Trustly.

Joining the investment round are a diverse group of investors, including 10xFounders, Jens Lapinski from Angel Invest, and notable angels such as Jeppe Rindom (founder/CEO of Pleo), Daniel Krauss, Jochen Engert, and André Schwämmlein (Founders of FlixBus), Oliver Merkel (Founder of Flink), Christian Grobe and Matthias Knecht (founders of Billie), Martin Blessing (former CEO of Commerzbank), and Nico Rosberg (Formula 1 World Champion).


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