Fintech firm eyes global growth after funding lift

A fintech firm has revealed global growth plans after securing financial support.

Kani Payments says it is set to expand internationally, boost product development and strengthen customer partnerships.

Bosses unveiled the blueprint after the Newcastle-based firm landed Maven Capital Partners backing.

They add the support will allow the company – whose software helps financial organisations manage complex payment data – to prepare its systems for “upcoming regulations requiring firms to provide audit-ready reconciliation of client funds across the UK and global payments markets”.

The funding, secured via NPIF II – Maven Equity Finance, follows multi-million-pound Maven support last year.

Aaron Holmes, chief executive at Kani Payments, which already operates across five continents, said: “Maven has been a hugely supportive partner since their initial investment, and we’re pleased to have their continued backing as we enter the next phase of Kani’s growth. 

“This investment will allow us to keep investing in our platform and supporting payment companies facing growing reconciliation and regulatory complexity.” 

NPIF II – Maven Equity Finance is managed by Maven as part of the Northern Powerhouse Investment Fund II alongside the Maven VCTs.

Rebecca Minchella, Maven Capital Partners investment manager, said: “Kani has achieved impressive growth since our initial investment, and we have been really impressed by the expertise and conviction of the team to address the challenges facing fintechs in a fast-evolving payments industry. 

“With the increasing complexity of payment reconciliation and regulatory compliance, demand for Kani’s solution is set to continue.”

Sarah Newbould, senior investment manager at British Business Bank, which oversees the Northern Powerhouse Investment Fund II, added: “Kani Payments is tackling a critical challenge for financial services firms as payment ecosystems become more complex.”

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