Deal summary
London – 26th November 2018: UK fintech iAxept has announced today that it has secured significant venture growth funding from a group of private investors to fund the Company to commercial launch. iAxept is the world’s first payments solution provider to bring the simplicity of contactless to the online world.
The new injection of capital will allow iAxept to complete commercial development of its patented solution leading to commercial launch currently expected in H1 2019.
“Our goal is to revolutionise online payments using contactless technology and our solution solves the significant issue of card not present fraud that the online merchant faces today” said Risto Savolainen, Founder and CEO of iAxept. “We believe we have one of the most ground-breaking solutions in the market with the unique benefits of being fully compliant with the new European Payments Services Directive whilst retaining the one-tap functionality that consumers love with contactless.”
About iAxept
iAxept is a UK based company which provides a completely frictionless payment experience for on-line shopping without the need to insert any payment card data. iAxept has a patented solution which makes eCommerce payments as easy, fast and secure as using your contactless card at a point of sale. With iAxept Contactless, card holders can pay their online shopping anywhere with just one tap on their mobile phone. For online merchants, iAxept offers unrivalled security with card-present payments and no need to collect any payment card data. Just One-Tap.
Aquaa Partners acted as exclusive strategic and financial advisor to iAxept.
"iAxept is one of the most innovative UK-based financial technology companies that is now well positioned to launch its ground-breaking payments solution. Next year in selected territories consumers should be able to use their contactless cards for eCommerce and online pre-paid mobile phone top-ups. Contactless technology has certainly revolutionised face-to-face payments and the iAxept solution provides a natural extension of the consumer’s familiarity with contactless into the online world."
