Kashimi Raises $1.36M to Expand Payment Infrastructure

September 12, 2025 • FinTech News, Uncategorized
Kashimi Raises $1.36M to Expand Payment Infrastructure

Lithuanian startup Kashimi has raised $1.36 million in a pre-seed funding round to develop alternative payment infrastructure for regulated financial institutions. The investment was co-led by Coinvest Capital and U.S.-based Impellent Ventures, with additional backing from Plug and Play Tech Center and several international business angels. Coinvest Capital alone contributed nearly $750,000, demonstrating strong investor confidence in the company’s business model.

Simplifying Open Banking Access

Founded to simplify access to open banking systems, Kashimi operates as an infrastructure-as-a-service (IaaS) platform. Through a single API, the platform enables businesses to connect with hundreds of banks and access instant account-to-account (A2A) payments. The solution serves various financial players including banks, payment service providers, lenders, remittance platforms, FX operators, digital wallets, and treasury systems.

Expansion Plans and Market Strategy

The new funding will help Kashimi accelerate its European and UK expansion while building its presence in the United States. The company began establishing its U.S. market foundation in late 2024. By connecting open banking systems across multiple regions, the startup positions itself as a key facilitator of global financial connectivity.

Additionally, Kashimi has gained acceptance into Plug and Play Tech Center’s six-week GOAL programme. This accelerator provides crucial exposure and experience in the U.S. market, giving the company valuable footing as it scales operations.

Leadership and Investor Perspectives

CEO and co-founder Benas Pavlauskas believes the timing is ideal for Kashimi’s offering. “Alternative payment methods, which began in Europe and the UK following open banking regulations seven years ago, are finally gaining momentum,” he stated. “Customers now expect these solutions, and financial institutions should expand their merchant offerings. The U.S. is introducing a similar concept and actively promoting its development.”

Investors also recognize potential in Kashimi’s vision. Impellent Ventures managing general partner Phil Beauregard noted, “We think the team includes some of the most innovative and experienced thinkers in the space. Combined with being our first collaboration with Coinvest Capital, we couldn’t be more excited for their future.”

With fresh funding and strong partnerships, Kashimi is positioned to play a leading role in evolving cross-border payment infrastructure. The company connects institutions and merchants to faster, more efficient alternatives to traditional payment systems, addressing the growing demand for modern financial connectivity solutions across global markets. This investment reflects increasing interest in open banking technologies that can streamline financial operations while maintaining regulatory compliance.