TransactionLink Secures €5 Million to Revolutionize Business Onboarding
TransactionLink, a pioneering drag-and-drop platform facilitating efficient business onboarding, has raised €5 million in seed funding. This capital infusion will fuel the expansion of its KYB (know your business) product into new sectors and further develop its headquarters in Berlin and London.
The funding round was led by White Star Capital, a globally recognized multi-stage investment firm. Notably, existing investor Target Global and others who participated in the pre-seed round also reaffirmed their support for TransactionLink’s mission.
TransactionLink empowers teams to swiftly and effortlessly design and automate their business onboarding processes. Users can create intricate workflows without coding, incorporate risk and decision logic, and seamlessly integrate with industry-leading KYC/KYB services. The platform adeptly automates background checks and customer interactions, eliminating the requirement for extensive and costly operational teams. This revolutionary approach allows engineering teams to allocate resources more effectively than building onboarding processes from scratch.
Source: TransactionLink
Mateusz Pniewski, CEO and Founder of TransactionLink emphasizes the surging interest in business onboarding automation. He underlines that to remain competitive. Financial institutions must prioritize user experience and process efficiency over mere product offerings. Pniewski draws parallels between the changing landscape in B2B financial services and the transformative impact of Revolut, Monzo, and N26 in the retail sector during the 2010s.
Currently serving over 50 customers worldwide, including Fortune 500 firms and global payments provider Fiserv, TransactionLink offers over 150 ready-made integrations with the most common KYB/KYC data sources spanning more than 100 geographical regions. The platform also provides:
- Complete white-labeling
- Expediting merchant activation for payment service providers
- Streamlining business account openings with banks
- Reducing churn during the onboarding process.
TransactionLink’s €5 million seed round signifies a great leap forward in revolutionizing and simplifying the business onboarding process, positioning the company as a frontrunner in this rapidly evolving market.
