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Santander InnoVentures invests in PayKey, a startup that allow peer to peer payments with WhatsApp, Facebook Messenger or Twitter

  • Fintech payment startup PayKey raises USD 6 million in Series A funding.

Madrid, 22 November 2016. Santander InnoVentures, the fintech venture capital fund of Santander Group, announced today an investmenet in PayKey, a startup that allow peer to peer payments as easily as writing a chat or sending a photo to a friend using WhatsApp, Facebook Messenger or Twitter. Israeli-based PayKey has developed a mobile keyboard application that connects to the bank to make instant and secure payments.

Mariano Belinky, managing partner, Santander InnoVentures, said: “Santander has a longstanding relationship with PayKey and we are working closely to conduct customer trials across our markets. We were also delighted to award the business the winning place at the InnoVentures PitchSlam competition in February. I am excited about our investment in PayKey, which will help to take the tech out to market around the world. We strongly believe PayKey can make payments even more accessible and integrated with consumers’ digital lives and we are actively interested in the potential to bring that value to our customer base.”

PayKey’s technology is fully platform agnostic and can be white labelled and branded by each bank. PayKey today announced a $6 million Series A funding round in which, besides Santander InnoVentures, participated e.ventures, Gaby Salem of Wharton Asset Management, CommerzVentures, MasterCard and Digital Lenders Ventures.

Santander InnoVentures is a fintech venture capital fund fully-owned by Santander Group. The fund is stage-agnostic and invests both capital and resources in companies globally. It focuses on start-ups that can increase the value proposition to Santander customers across the Group’s 10 core markets in Europe and the Americas, while creating value for the companies it invests in.

The Fintech 2.0 Paper is a call to action for both banks and fintechs to consider the multi-billion dollar opportunities available through partnership. Download it here

For more information on Santander InnoVentures investments and the strategic investment philosophy behind the fund, please visit http://santanderinnoventures.com 

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