LoopingOne, the most flexible know your customer (KYC) and payment platform for online marketplaces and internet platforms, has completed its first seed investment round. It received a capital injection of Ebury, one of the world's largest fintech companies. Ebury's solutions simplify international trade activities.
The funding worth €800,000 aims to further develop LoopingOne's platform. Additionally, it marks the start of the application for the Electronic Money Institution (EMI) license from De Nederlandsche Bank (DNB) to operate as an electronic money institution. Thanks to an integration with Ebury's solutions, LoopingOne can offer multi-currency services to online marketplaces from the outset.
The two companies have also entered into a collaboration to combine their services and know-how to develop new solutions and expand their business activities.
"Ebury has twenty locations worldwide. It provides solutions for international payments to companies that trade internationally. It is an ideal partner for LoopingOne, which also harbors global ambitions," says Freek Dix, co-founder of LoopingOne. "Ebury has traditionally held a strong position among small and medium-sized enterprises that import and export goods on a global scale. The team and platform of LoopingOne can help Ebury expand its presence in the e-commerce sector."
"From a strategic perspective, we want to focus more strongly on e-commerce companies in all parts of the world," says Fernando Pierri, the CCO of Ebury. "B2B flows are currently taking place via online marketplaces, and in the future, that will be even more the case. Therefore, our collaboration with LoopingOne is an important strategic step for us. We are talking about a market with triple-digit growth."
LoopingOne was founded last year by Bob Voermans, Mark van der Sluis, and Freek Dix, three veterans with years of experience. They gained this experience at fintech and e-commerce companies such as Ingenico, PayU, and G2A. Before founding LoopingOne, they assembled a team of payment specialists who help merchants around the world optimize their payment strategies. In doing so, they experienced firsthand the challenges online marketplaces face regarding regulations, KYC processes, and ties to specific payment providers.
Co-founder of LoopingOne, Bob Voermans: "LoopingOne helps online marketplaces put an end to their dependence on payment partners for their daily operations. We offer them the opportunity to choose from various KYC and payment partners that meet their specific needs."
