With the increasing adoption of real-time payment (RTP) systems worldwide, account-to-account (A2A) payments in e-commerce transactions are taking off around the world and are projected to reach a staggering $757 billion by 2026 up from $525 billion in 2022, according to global financial technology leader, FIS.
Capitalizing on this growing market, Volt, a fintech company based out of the UK, has successfully secured a $60 million Series B funding round. This investment will enable Volt to expand its network of acceptance globally and drive product development in its existing markets.
Leading the investment round is IVP, a renowned Silicon Valley-based firm with an impressive track record of backing successful ventures like Coinbase, Slack, and Supercell. Joining the Series B round as a new investor is CommerzVentures, along with existing funds EQT Ventures, Augmentum Fintech PLC, and Fuel Ventures.
Volt launched in 2019 and has firmly established itself as a prominent global provider of real-time payments. The company's pioneering approach lies in consolidating cutting-edge A2A payments infrastructure into a single point of access.
Already established in Europe, the UK, and Brazil, Volt aims to leverage the funding to fuel its expansion into new international markets, including Asia/Pacific (APAC) and the Americas. The company has plans to enter the Australian market in the latter half of 2023. Moreover, Volt intends to enrich its product suite by incorporating cash management features while significantly bolstering its product and engineering teams.
The $60 million investment in Volt demonstrates investors’ confidence in the fintech sector and the company specifically. This positions it to redefine the future of payments in the APAC region and broadly on a global scale.