LoopingOne, the most flexible KYC and Payments platform for Marketplaces and Platforms has closed its first seed round from Ebury, one of the world's largest fintech companies offering financial solutions to simplify international trade.

The investment aims to further develop the LoopingOne product and start the Electronic Money Institution (EMI) application process at the Dutch Central Bank (DNB). An integration with Ebury will also give LoopingOne the capability to offer multi-currency services to its marketplace customers from the get-go.

Furthermore, the two companies established a partnership to build on each other's resources and know-how to shape products and accelerate commercial activities.

“Ebury has offices in 20 countries around the world offering cash management and foreign currency solutions to companies trading internationally. It’s the ideal partner for LoopingOne that shares the same global ambitions”, says Freek Dix, co-founder of LoopingOne. “Traditionally Ebury has had a strong foothold with SMEs importing and exporting around the world. The LoopingOne team and product can help expand the Ebury business further into the e-commerce sector.”

"Our strategy has been to focus more on e-commerce businesses around the globe. The B2B flows now, and even more so in the future, will be through online marketplaces. Therefore having LoopingOne as our partner is a key strategic move for us. This is a triple-digit growth market!” says Fernando Pierri, Chief Commercial Officer at Ebury.

LoopingOne was founded last year by Bob Voermans, Mark van der Sluis and Freek Dix all of whom are industry veterans, having collected years of experience at fintech and e-commerce companies such as Ingenico, PayU and G2A. 

Prior to LoopingOne they built a team of payments specialists that help merchants around the world improve their payment strategies. In doing so they came face to face with the challenges that marketplaces encounter in regards to regulation, KYC and merchant lock-in.

Co-founder, Bob Voermans, said: “LoopingOne helps Marketplaces be independent of payment partners in their day to day operation by allowing them to choose various KYC and payment partners that suit their individual needs at any given time.”

The team at LoopingOne and Ebury will attend the Money20/20 conference in Amsterdam on 7 – 9 June 2022 where they will meet partners, clients and future investors.