Ordo, an open banking payments FinTech, has raised £10mn Series A funding.
Ordo is a FinTech aiming to scale variable recurring payments for sweeping.
Variable recurring payments can be made between two accounts owned by the same person via “sweeping”.
Investors in the round include Equinox Systems as well as Angel Investors.
What does this mean?
Ordo has been around since 2018 and currently offers open banking payments to businesses – it is now developing its offering of VRP for lenders, and will use some if it funding to offer API integrations with tools such as accounting software.