Goose Valley Ventures (GVV), a FinTech-focused venture capital firm dedicated to supporting innovative startups in the Nordic and Baltic regions, is pleased to announce its latest investment in Lithuanian FinTech Torus, a SaaS intelligence platform for banks and paytechs.
With this strategic investment, GVV underscores its commitment to backing high-potential startups that drive innovation in the fintech sector, with a focus on transformative solutions in areas like payments and financial infrastructure.
Torus, operating within the card network ecosystem, addresses critical challenges faced by issuers, acquirers, and merchants. GVV enters the company at a very exciting stage, the company has found its product-market-fit, has good growth and just placed as no 76 on Stifed 250 – Europe’s Fastest-Growing Startups 2024.
Torus is solving a $13 bn problem with the lack of transparency of the fees charged by the card schemes like Visa and Mastercard. Card payments is nowadays a low-margin high-volume market where the unit-level profitability analysis is a challenge due the grey area of the card schemes fees. The company’s SaaS intelligence platform analyzes, optimizes and predicts the scheme fees and thus enhances the customers’ profitability. The company already has 10 customers and an ARR of $1 mn.
“We have tracked the company for almost a year now and finally had the opportunity to join their journey,” said Robin Egerot, General Partner at Goose Valley Ventures. “Kirill and the team have built a truly cutting-edge platform, based on their unique insights to the problem and experience within card payments. This combined with a global market opportunity and the long-term vision makes us very excited to be part of the company”
“We’re experiencing a strong momentum and are eager to propel Torus to the next stage of growth.” said Kirill Lisitsyn, CEO and Co-Founder of Torus. “Goose Valley Ventures’ network and expertise in the industry is a great fit for us as we grow and continue our expansion.”
Read the orginal article: https://ffnews.com/newsarticle/funding/goose-valley-ventures-invests-in-leading-lithuanian-fintech-torus/
