Dublin’s WhenThen Raises $ 6 Million Seed Funding for its Payments Operations Platform
The Irish fintech, founded last year by former Mastercard employees, has developed a codeless payment transaction platform.
Dublin-based payments operations firm WhenThen has raised $ 6 million in seed funding in a round co-led by venture capital firms Cavalry and Stride.
The company, founded last year by Kirk Donohoe, Eamon Doyle and Dave Brown, empowers businesses to create any kind of payment flow and stay in control of when and how they collect, process and issue payments, all via a code-free interface.
Donohoe, who is CEO, explained the business premise: “When you can’t meet your core business goals because your engineering team is distracted to create and maintain payment flows and integrate new gateways into them. payment and other business platforms, a platform that allows you to do it all in one place, in minutes, not months, that really goes without saying. “
WhenThen supports a range of payment providers including Stripe, Adyen, and Checkout.com, as well as payment methods like Klarna, Affirm, PayPal, BitPay, and more.
Donohoe was previously vice president of product innovation at Mastercard Labs in Dublin and his co-founders also worked for the payments giant. The team has many years of experience in the fintech industry, having worked on Mastercard solutions such as Mastercard InControl, Simplify and QKr!
They also previously founded Solvers, a financial technology and payment products consulting agency that has partnered with brands such as Airbnb, American Express, British Airways, Mastercard and Bank of Montreal. In his role as CEO of Solvers, Donohue spoke at Silicon Republic’s Inspirefest 2019 event.
The rise of payment transactions
“We are seeing traditional businesses embrace electronic communications, and electronic communications merchants are now leveraging multiple business models such as commercial offer, marketplace, subscription and more,” Donohoe said.
“No platform allows these companies to easily build and operate multiple payment streams to support multiple business models in one place – that’s where we come in. “
WhenThen’s new backers are also optimistic about the growth of payment transaction platforms.
Fred Destin, founder of London-based Stride VC, said choosing the right payment transaction platform would become “as important as choosing the right e-commerce platform” for merchants.
Claude Ritter, Managing Partner of European venture capital firm Cavalry, added: “Core payment orchestration platforms have been around for some time, primarily focusing on maximizing payment acceptance by optimizing routing . WhenThen provides the first end-to-end payment flow platform to give businesses the ability to control every step of the payment flow, from payment intent to payment.