Berlin-based payment solution software business OptioPay has raised €7m in seed funding.
The company raised the funding from DVH Ventures, Nord LB, Main Incubator, Berlin Ventures, and Auden.
It claims to provide a payment solution for companies to convert payments, such as payroll, payouts in insurance and other monetary claims to products, services or vouchers from established vendors.
OptioPay’s platform already has contracts signed with more than 100 brands and suppliers such as Adidas, Zalando, banks, insurance, aviation and railway companies.
The company said it intends to use the funds to continue to expand operations.
OptioPay was co-founded by COO Oliver Easter and CEO Marcus Börner.
Borner previously founded reBuy.com, which went on to become Germany’s Re-commerce leader, raising €40M, and hitting annual revenues of about €70M.
Prior to founding OptioPay in 2014, Easter was an admitted lawyer to the Berlin law bar with experience in restructuring, banking and corporate law.
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