What is Token?
Token operates an open banking platform designed to bridge the gap between traditional banking systems and the evolving landscape of financial technology. The company's core offering provides banks with a robust solution for PSD2 compliance, while simultaneously granting Payment Service Providers (PSPs) and developers secure access to bank data and payment initiation services. This dual functionality positions Token as a critical enabler of innovation within the financial services industry, fostering greater connectivity and efficiency.
How much funding has Token raised?
Token has raised a total of $87.5M across 5 funding rounds:
Series A
$15.7M
Private Equity
$16.5M
Debt
$350K
Series B
$15M
Other Financing Round
$40M
Series A (2017): $15.7M with participation from Plug and Play, EQT Ventures, Octopus Ventures, OP Financial Group, and Digital Currency Group
Private Equity (2019): $16.5M led by Opera Tech Ventures, EQT Ventures, Octopus Ventures, and BNP Paribas
Debt (2020): $350K supported by PPP
Series B (2021): $15M featuring Opera Tech Ventures, Octopus Ventures, SBI Investment Co. Ltd., Sony Innovation Fund, and EQT
Other Financing Round (2022): $40M backed by PostFinance, TempoCap, Cota Capital, Opera Tech Ventures, Element Ventures, SBI Holdings, MissionOG, and Octopus Ventures
Key Investors in Token
Octopus Ventures
Octopus Ventures is a venture capital firm known for backing mission-driven companies across various sectors including financial technology, aiming to provide long-term capital and guidance to founders with ambitious goals.
EQT Ventures
EQT Ventures is an early-stage venture capital fund that invests in technology companies, focusing on supporting innovative startups with the potential for significant growth and market disruption.
SBI Investment Co. Ltd.
SBI Investment Co. Ltd. is a Japanese investment firm that actively invests in a wide range of technology and financial services companies, supporting their growth and innovation through capital and strategic partnerships.
What's next for Token?
With a significant influx of capital, Token is poised for accelerated growth and expansion. The company's strategic investments suggest a focus on enhancing its platform capabilities, broadening its market reach, and potentially exploring new regulatory frameworks or geographical territories. This latest round of financing will likely empower Token to solidify its position as a leader in the open banking ecosystem, driving further adoption of its compliance and connectivity solutions.
See full Token company page
