Kani Payments boosted by multi-million Maven funds

A fintech firm has revealed global growth plans after securing multi-million-pound support.

Kani Payments says it is targeting international expansion and new jobs after backing from Maven Capital Partners.

Bosses say the boost will also support the development of the Newcastle-based company’s technology, which provides data and analytics support to payments and banking companies.

The cash injection includes investment from Maven venture capital trusts and NPIF II – Maven Equity Finance, which is managed by the private equity firm as part of the Northern Powerhouse Investment Fund II.

And Aaron Holmes, Kani Payments’ chief executive, says the funding “marks a pivotal moment in the company’s evolution (amid) surging global demand”, adding the business – which operates across five continents – is primed to build on previous support worth nearly £20 million.

He said: “We see first-hand how critical automated reconciliation has become for financial institutions.

“Maven's backing will accelerate our platform development and global expansion, particularly as we see increasing opportunities in markets where regulatory compliance and payment reconciliation complexity continue to grow.”

Tony Kerr and Craig Dewar, Kani Payments’ co-founders and directors, added: “This investment fuels our ability to scale rapidly, innovate further and expand into new markets.”

Rebecca MacDermid, Maven Capital Partners’ investment manager, added: “With the increasing complexity of payment reconciliation and regulatory compliance, demand for Kani’s solution is set to grow further.

“We are excited to support Aaron and his team as they scale the business and expand into new global markets, particularly with significant opportunities emerging in the US.”

The £660 million Northern Powerhouse Investment Fund II covers the North of England and provides loans from £25,000 to £2 million, and equity investment up to £5 million, to small and medium-sized businesses.  

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