Kevin Secures $65 Million in Series A Funding

Kevin, one of the emerging payment companies in Europe, recently confirmed that it has raised $65 million in the Series A funding round led by Accel. Additionally, the investment round saw participation from Eurazeo.

According to Tadas Tamošiūnas, the Chief Executive Officer and Founder of Kevin, the fintech company has seen significant growth in the past 12 months. He added that the funding will facilitate Kevin’s expansion and will assist the company’s mission to enhance its global presence.

“I'm proud to announce that Kevin has raised $65 million in the Series A funding round. It's been an amazing journey so far and with Accel coming on board, we'll be able to make even bigger strides. We will use this investment to secure 35% coverage of POS payment terminals across Europe while working towards achieving over 85% by the end of 2023. Our expansion in online and offline payment markets will let us become the third scheme beside Visa and Mastercard in the EEA,” Tamošiūnas said in a post.

In addition to Accel and Eurazeo, Kevin received support from OTB Ventures, Speedinvest, OpenOcean and Global Paytech Ventures.

Digital Payments

Amid the rising adoption of digital tools in the global payments industry, Kevin saw a major boost in the demand for its products and services. It has already picked up almost 6,000 merchants in 12 markets across Europe.

“Tadas, Pavel and the Kevin team are powering the future of payments with their next-generation payments infrastructure,” noted Luca Bocchio, a partner at Accel, in a statement. “Offering a fast, seamless payment experience, with reduced costs and increased authentication rates, the time for A2A payments is now and Kevin has already had impressive momentum with its offering. With the launch of its unique POS payments product, the opportunity ahead is huge, and we’re looking forward to partnering with the team on their journey.”