Berlin-based TransactionLink, a trailblazer in drag-and-drop onboarding solutions, has successfully secured €5 million in a seed funding round. The funding, led by White Star Capital, a global multi-stage investment firm, with participation from angel investors in London and Paris, will facilitate the expansion of TransactionLink’s KYB (Know Your Business) product into new sectors. Additionally, the investment will support the growth of its co-headquarters in Berlin and London. Notably, existing investor Target Global and angels from the pre-seed round also participated in this funding round.
TransactionLink’s innovative platform empowers teams to build and automate their business onboarding processes within minutes. Offering a no-code solution, the drag-and-drop builder enables teams to create intricate workflows, incorporate risk and decision logic, and seamlessly integrate with leading KYC/KYB services. The platform streamlines both back-end checks and front-end customer interactions, providing a comprehensive end-to-end onboarding experience. By eliminating the need for extensive and expensive operations teams, TransactionLink enables engineering teams to avoid building onboarding processes from scratch.
Mateusz Pniewski, CEO & founder of TransactionLink, highlighted the increasing demand for business onboarding automation, stating, “We’ve seen a surge in interest for business onboarding automation over the last year. Business services have traditionally been very manual add-ons, but financial institutions have realized that to stay competitive, investing in user experience and process efficiency is key, rather than purely focusing on product offerings.”
Originally founded in 2020 as an open banking services provider, TransactionLink shifted its focus to customer onboarding when it recognized a substantial opportunity. Despite the prevalent manual processes in the business-to-business world, TransactionLink’s automation tools offer a holistic onboarding product that significantly saves time and resources for payment providers, fintechs, banks, and wealth management platforms.
TransactionLink boasts a diverse client base, working with over 50 customers globally, including Fortune 500 companies and the global payments provider Fiserv. The platform provides over 150 ready-made integrations with the most common KYB/KYC data sources across more than 100 geographies, offering full white-label capabilities. Its impact includes accelerated merchant activation for PSPs, reduced manual work in business account openings with banks and wealth management platforms, and minimized churn in onboarding processes.
Nicholas Stocks, General Partner at White Star Capital, acknowledged TransactionLink’s remarkable traction, stating, “Having partnered with several large international customers over the past year, the team at TransactionLink has shown excellent traction. KYB has become critical to business offerings globally across a variety of sectors, but building and managing an efficient and streamlined KYB workflow remains tricky. There is a massive opportunity in solving this problem, and we’re excited to see where Mateusz and his team go in the years ahead.”
