Kani Payments secures investment for expansion into international markets

Kani Payments secures investment for expansion into international markets - Trade Treasury Payments

Kani Payments, a Newcastle-based fintech firm, has secured a multi-million-pound Series A investment led by Maven Capital Partners. The funding will support the development of its automated payment reconciliation platform and its expansion into international markets.

The investment includes backing from the Maven VCTs and NPIF II – Maven Equity Finance, part of the £660 million Northern Powerhouse Investment Fund II (NPIF II), which provides financial support to businesses across the North of England.

Kani, founded in 2018, offers a SaaS platform designed to streamline payment reconciliation and reporting for banks, payment companies, and fintech firms.

Industry challenges and Kani’s role

With global payment volumes increasing and regulatory requirements becoming more complex, financial institutions face challenges in managing reconciliation processes. Kani’s platform aims to automate these processes.

The company has reconciled over €24 billion in processed payments across five continents and serves clients such as Cardaq, Paysafe, Pluxee, and Transact Payments.

Aaron Holmes, CEO of Kani Payments, said, “This investment marks a significant step in Kani’s journey. With growing demand for automated reconciliation, this funding will allow us to further develop our platform and expand globally.”

Investment and expansion plans

The new funding will be used to enhance Kani’s platform, grow its team, and support international expansion, particularly in the United States. The investment aligns with increasing digitisation in financial services and stricter regulatory requirements, both of which are creating demand for compliant reporting solutions.

Rebecca MacDermid, Investment Manager at Maven Capital Partners, said, “Kani addresses a key challenge in the payments industry. The company has seen a 70% increase in clients over the past year, and its recurring revenues are rising sharply. We look forward to supporting Kani as it expands into new markets.”

Tony Kerr and Craig Dewar, Co-founders and Directors at Kani Payments, said, “Maven’s backing validates our position in the payments sector and supports our plans for rapid expansion and further innovation.”