The round was led by White Star Capital, the global multi-stage investment firm, with additional angel investors from London and Paris joining the round. Existing investor Target Global, alongside other angels from the pre-seed round, also participated in this new round of funding.

TransactionLink gives teams the power to build and automate their business onboarding processes in minutes. From creating complex workflows, to adding risk and decision logic, and integrating with best-in-class KYC/KYB services - all with no code. The platform automates back-end checks and front-end customer interactions for a complete end-to-end experience. It removes the need for large, costly operations teams, and means engineering teams don’t have to spend time building an onboarding process from the ground up.

Mateusz Pniewski, CEO & founder of TransactionLink, commented “We’ve seen a surge in interest for business onboarding automation over the last year. Business services have traditionally been very manual add-ons, but financial institutions have realised that to stay competitive, investing in user experience and process efficiency is key, rather than purely focusing on product offerings. There is a big shift coming in B2B financial services that requires all players to adapt, much like the change triggered by Revolut, Monzo and N26 in the retail space during the 2010s.”

Having started life as an open banking services provider, TransactionLink now focuses on customer onboarding once it became clear that it was a massive opportunity. It is a process that remains incredibly manual in the business-to-business world, but TransactionLink realised that by applying its automation tools it could provide a holistic onboarding product that saves payment providers, fintechs, banks, and wealth management platforms alike a huge amount of time and money.

The company now works with over 50 customers around the world, including Fortune 500 and global payments provider, Fiserv. It offers over 150 ready-made integrations to the most common KYB/KYC data sources across more than 100 geographies, and the platform can be fully white-labelled. It speeds up merchant activation for PSPs, reduces manual work when opening business accounts with banks and wealth management platforms, and reduces churn in onboarding.

Mateusz Pniewski, CEO & founder of TransactionLink, added “We are very happy to be working with both some of the biggest payment providers in the world, as well as new challengers in the fintech space. For some established players we were able to reduce their onboarding costs by as much as 70%, while for new entrants and scaleups, we provided them with ready-made onboarding processes as they expanded into new markets.

As we look to the future, it’s great to be backed by a partner with such strong conviction in our vision and team. White Star Capital’s broad geographic footprint will be key for our strategy as B2B onboarding is moving to a global-first model.”

Nicholas Stocks, General Partner at White Star Capital, commented “Having partnered with several large international customers over the past year, the team at TransactionLink has shown excellent traction. KYB has become critical to business offerings globally across a variety of sectors, but building and managing an efficient and streamlined KYB workflow remains tricky. There is a massive opportunity in solving this problem and we’re excited to see where Mateusz and his team go in the years ahead.”