OpenPayd doubles growth in surging embedded finance market

Posted on June 4, 2024
OpenPayd doubles growth in surging embedded finance market
OpenPayd is the infrastructure provider of choice for more than 400 early adopters of embedded finance globally.
OpenPayd Editorial Team
OpenPayd Editorial Team
June 4, 2024

London, 4th June 2024 – OpenPayd, the leading infrastructure provider for embedded finance, today announced over 100% growth for a second consecutive year as it reached profitability and generated over €40 million ARR.

OpenPayd is the infrastructure provider of choice for more than 400 early adopters of embedded finance globally. OpenPayd’s embedded finance research reinforces that three quarters of all digital businesses across both the UK and Europe will launch embedded finance solutions in the next five years, with market revenues expected to hit over €600bn, across a global addressable market worth over €7tn.

With its technology and licence infrastructure, OpenPayd is uniquely positioned to capture this demand and power the growth of the digital economy. The platform, now processing over €50bn volume annually, is proven at scale and proudly serves global brands such as eToro, OKX and Libertex.

By embedding financial services into existing product offerings, businesses increase the touchpoints and stickiness with their customers. Financial services is changing from historically being a cost centre, to becoming a revenue generator. As digital transformation accelerates faster than ever and advanced technologies such as blockchain and AI create entire new industries, the total addressable market for embedded finance is poised to expand exponentially.

Iana Dimitrova, CEO of OpenPayd said: “Embedded finance is revolutionising how businesses interact with customers, by providing seamless financial services through their platforms. At OpenPayd, we are dedicated to empowering our partners with the infrastructure they need to innovate and thrive in this dynamic landscape.” 

“Our significant growth reflects the increasing demand for integrated financial solutions and our commitment to delivering unparalleled value and support to our clients. The business, now in a profitable position, is ready to reach new heights in this financial year.”  

OpenPayd has recently announced it is powering prominent Web3 money app, Wirex, to provide virtual IBANs to its customers in 30+ countries, and partnership with TrueLayer, to enhance its real-time payments offering.