https://techcrunch.com/2022/05/12/token-io-raises-40m-to-expand-open-banking-based-account-to-account-payments-in-europe/

The rise of digital payments has changed the nature of how people do business with each other; and open banking — a movement in banking where incumbents are finally adopting newer technology such as APIs to open their systems to modern integrations — is leading to a wave of new payment methods, all of which are hoping to become as standard as cash or paying with cards. In the latest development on this theme, a UK startup called Token.io has closed $40 million in funding to expand its own particular push in payments tech — account to account payments and accessing accounts for transactions by way of a single API — deeper into the UK and across Europe.

The funding is being co-led by Cota Capital and TempoCap, with participation also from Element Ventures, MissionOG and PostFinance as well as past investors Octopus Ventures, Opera Tech Ventures and SBI Investments. The company is not disclosing valuation but CEO Todd Clyde confirmed it was up compared to its previous financing.