Volt raises $60m Series B round led by Silicon Valley investor IVP

By Gloria Methri

Volt, the company building the global infrastructure for real-time payments, has raised a $60 million Series B to fund expansion into new international markets such as APAC and the Americas. The funds will also support Volt’s product development in existing markets across Europe, the UK, and Brazil.

The investment round was led by IVP, a Silicon Valley-based firm that has a 40+ year track record backing companies like Coinbase, Slack, and Supercell. New investor, CommerzVentures, also participated in this Series B round along with existing funds EQT Ventures, Augmentum Fintech PLC, and Fuel Ventures.

Volt, which is currently available across the UK, Europe, and Brazil, plans to bring its real-time payments technology to APAC, with an Australian market entry planned for later in 2023 and has also sights set on the US market.

The company plans to use this Series B investment to build its network of acceptance and global reach and to enhance its product suite to include cash management, while also bolstering its product and engineering teams.

Tom Greenwood, CEO of Volt, said, “Testament to our progress and our vision for real-time payments everywhere, we are thrilled to be working with our new partners at IVP, joining their portfolio of leading global brands. We are staying focused, and humble, as we embark on this next chapter.”

Founded in 2019, Volt is a global real-time payment provider that brings together new generation account-to-account (A2A) payments infrastructure to a single point of access. This investment builds on Volt’s momentum, with recent wins including a global partnership for with Worldpay from FIS, and teaming up with Shopify to become the commerce platform’s first open banking provider.

“True to its name, Volt is creating an electrifying global network for instantaneous, secure, and cost-effective A2A payments. The wisdom and experience of the founders accrued at transformative payments companies, coupled with the talented employees at the company, strongly position Volt to give merchants and payment partners the lightning-fast, best-in-class payment solution they’ve wanted and needed,” said Eric Liaw, General Partner at IVP.