Bivial AG Raises CHF 3M to Accelerate Growth
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Bivial AG is pleased to announce the completion of its first external financing round, which raised a total of CHF 3M. The round was led by established payments institution payabl. which was founded in 2010 with the mission to accelerate technological innovation in the payment services industry and democratise access to global payment solutions. With offices in Frankfurt, London and Cyprus, payabl. now serves a number of high-profile fintech customers including eToro and Bernstein Bank.
All new investors who contributed to Bivial’s latest funding round were strategically selected based on their successful track record in driving business performance and their ability to positively contribute to Bivial’s continued growth and expansion. It should also be noted that the company was initially bootstrapped by its founders Mihkel Vitsur and Martynas Bieliauskas.
“Bivial’s first external funding round marks an important step in our company’s trajectory as it will enable us to leverage the network and expertise of our newfound investor base to accelerate our growth in 2022 and beyond. More specifically, we intend to use the additional capital to drive our product-based growth strategy – aiming to grow our headcount, client base, and establish product-market fit” said Martynas Bieliauskas, Bivial CEO.
As the first FINMA licensed Swiss fintech to work exclusively with e-commerce, digital entrepreneurs, and social media influencers, Bivial seeks to empower online businesses through cross-border, scalable, payment acceptance and remittance solutions. Founded in 2019, Bivial’s innovative solution brings together decades of combined industry experience to offer digital entrepreneurs all-in-one business banking services, including access to multi-currency IBAN accounts, global payment acceptance, and digital disbursement services.
payabl. Group CEO Ugne Buraciene who will join Bivial’s advisory board, has commented on the conclusion of Bivial’s funding round:
“I'm excited to be part of Bivial's growth story, and truly believe that together we can explore and harness the potential of the fintech industry. Our partnership with Bivial came naturally as our products and services complement one another.
We feel that between our acquiring and alternative payment solutions, and Bivial's transactional and settlement banking capabilities, this mutually beneficial partnership will add significant value to our clients, who are always at the heart of our decisions.”
As Bivial continues to build a high calibre team of industry experts, innovators and fintech disruptors, Martynas is confident that Bivial is set to become one of the leading players in the fintech industry:
“We believe that Bivial is well positioned to play an integral role in unlocking friction around banking, payment, and disbursement solutions for digital businesses. At Bivial, we are not looking to reinvent the wheel. Reliable business payment solutions are out there. Our proprietary technology simply integrates best-of-breed payment products and solutions in an all-in-one banking and payment solution, exclusively developed for today’s online businesses.”