Kashimi raises $1.36M to expand alternative payment infrastructure

Lithuanian startup Kashimi, which develops alternative payment
infrastructure for regulated and licensed financial institutions globally, has
secured a pre-seed investment of $1.36 million. The new funding will back
expansion in the European and UK markets and advance entry into the US,
building on steps initiated at the end of 2024.

Kashimi is a fintech infrastructure provider offering open
banking-powered, account-to-account (A2A) payment solutions. Its unified API
connects institutions to hundreds of banks instantly, enabling secure,
real-time A2A payments with built-in regulatory compliance (e.g., PSD2) and
seamless scalability across markets.

Designed for financial institutions, fintechs, PSPs, wallets, remittance
platforms, FX services, and treasuries, Kashimi enables rapid deployment, launching
Pay by Bank solutions in weeks rather than months, while lowering operational
costs and improving conversion with smart UX tools and enterprise-grade
reliability.

Benas Pavlauskas, Co-founder and CEO of Kashimi, explains:

Alternative payment methods, which started to
appear in Europe and the UK following the introduction and implementation of
Open Banking regulations seven years ago, are finally gaining momentum.
Customers are increasingly accustomed to these solutions, and it is the right
time for various financial institutions – banks, electronic money institutions,
or others – to expand their merchant offerings. The US is introducing a similar
concept and actively promoting the development.

The round was co-led by venture capital funds Coinvest Capital and
US-based Impellent Ventures, joined by Plug and Play Tech Center and
international business angels. Coinvest Capital’s share in the investment
amounts to $749,985.

Impellent Ventures expressed excitement about partnering with the
Kashimi team to advance frontier tech in open banking across Europe and the US.

Phil Beauregard, Managing General Partner at Impellent Ventures, shared:

We think the crew is comprised of some of the
most innovative and experienced thinkers and tinkerers in the space – and we
can’t wait to see what they cook up in order to create value for their
customers and stakeholders alike. Combined with being our first foray with
Coinvest Capital, we couldn’t be more amped up for the future of this one.

Viktorija Trimbel, Managing Director of Coinvest Capital, added:

Alternative payment methods are not a niche
anymore. Merchants are eager to adopt new payment methods, and customers want
to control their spending while feeling secure. For payment service providers,
alternative payments are the next frontier; however, success favors solution
providers who demonstrate competence, a broad vision, and strong ambition. Kashimi payment initiation infrastructure stands out for its convenience and
completeness. This segment is gaining momentum in the US, and Kashimi has a
great opportunity to ride the wave of growth. We are happy to have experienced
US investors joining the round

Kashimi has been selected to join the six-week GOAL program run by its
investor, Plug and Play Tech Center, giving the startup a key opportunity to
gain valuable experience in the US market.

Kashimi’s cutting-edge payment infrastructure showcases how Lithuanian
technology can compete on a global scale, Povilas Žinys, Director at Plug and
Play Lithuania, noted:

We see tremendous potential for their solution
in international markets and are proud to support their journey through Plug
and Play’s global network. We also expect the GOAL program to help Kashimi
achieve its global expansion goals.

Operating for less
than a year, Kashimi has built a team of 10 seasoned IT engineers specialising
in open banking and already started integrations with its first clients.