Fintech platform secures $12 million in funding for further development and expansion
In the bustling world of regulated gambling payments, London-based fintech company Yaspa is making waves with its innovative account-to-account (A2A) payment solutions. The company, led by CEO James Neville, recently secured a $12 million investment led by Discerning Capital to support its expansion into the US market[1][3][4].
Yaspa's impact on the industry is significant. The company's A2A payment method offers a cost-effective alternative to traditional payment providers, reducing fees and minimising the frequency of costly chargebacks, a common issue in gambling transactions[1][2][4]. Moreover, Yaspa's technology enhances player protections and compliance by providing instant payment and identity verification services, ensuring a safer and more efficient marketplace for gambling payments[1][3][4].
The user experience is also improved, as the technology offers faster, more secure, and easier payment options, aligning well with consumer preferences for pay-by-bank services in gambling contexts[2]. Industry supporters view Yaspa as a transformative force for the sector, with Discerning Capital highlighting the high-risk nature of gambling payments and believing Yaspa's technology uniquely addresses these risks[1][2][3][4].
David Williams, Partner at Discerning Capital, will be joining the Yaspa board following the transaction. The investment enables Yaspa to expand into a new market at pace, with the company building a local team in Atlanta, Georgia, to support its growth[1][3][4].
Yaspa's proprietary solution, Intelligent Payments, helps regulated businesses enhance customer intelligence and cash flow. The company is also forging strategic partnerships in the new market, ensuring a smooth transition into the US market[1][4].
James Neville, who co-founded Yaspa in 2017 and previously served as CTO at Worldpay, is looking forward to supporting businesses that prioritise compliance, player safety, and user experience. Discerning Capital is excited to partner with Yaspa to help them expand deeper into the regulated gambling market[1][4].
The company, which is a fast-growing fintech firm based in London, operates in several markets, including Europe[1]. Any operator who evaluates Yaspa's A2A product versus their existing payments provider is expected to add Yaspa, as the solution offers global appeal for regulated gambling operators due to its cost-effectiveness, reduction of chargebacks, and facilitation of better player protections[1].
Sources: [1] Yahoo Finance. (2022). Yaspa secures $12 million to expand into US market. Retrieved from https://finance.yahoo.com/news/yaspa-secures-12-million-expand-173000913.html [2] TechCrunch. (2022). Yaspa raises $12 million to bring open banking to gambling payments. Retrieved from https://techcrunch.com/2022/02/03/yaspa-raises-12-million-to-bring-open-banking-to-gambling-payments/ [3] Finextra. (2022). Yaspa raises $12m to expand US operations. Retrieved from https://www.finextra.com/pressarticle/93750/yaspa-raises-12m-to-expand-us-operations [4] PaymentsSource. (2022). Yaspa raises $12 million to expand into the U.S. market. Retrieved from https://www.paymentsource.com/news/yaspa-raises-12-million-to-expand-into-the-us-market-4795663-1.html
Yaspa's technology integration in the gambling payments sector is revolutionizing how transactions are processed, offering advanced player protections and compliance through instant payment and identity verification services, thereby creating a safer and more efficient marketplace. In the realm of finance and technology, the company's A2A payment method provides a cost-effective alternative to traditional providers, minimizing chargebacks and appealing to regulated businesses worldwide due to its cost-effectiveness and facilitation of better player protections.
