Utrecht-Based Fintech Startup SurePay Raises Growth Investment

Carlyle is investing through its CETP V fund, which is a €3.2 billion fund focused on growing technology businesses in Europe.

David-Jan Janse, CEO and co-founder of SurePay, says, “We are thrilled to welcome Carlyle as a strategic partner for the next stage of our journey. The team is grateful to Connected Capital and Iris Capital for their partnership since 2021, and the valuable experience they have brought in scaling B2B SaaS businesses and supporting breakout technology ventures like ours.”

“With Carlyle’s deep experience in financial infrastructure and enterprise software, they are the ideal partner to join Rabobank in supporting our ambition to strengthen our leadership across Europe and the UK, and expand into other international markets.”

Janse adds, “This investment is a major milestone for our team and a strong validation of the platform we have built together with top-tier financial institutions and leading corporates around the world.”

As part of the deal, venture capital and growth tech investor IRIS has exited SurePay. IRIS first invested in SurePay back in 2021 during its initial funding round.

Thorben Rothe, Partner at IRIS, says, “When we invested in SurePay in 2021, real-time payment verification was still a niche topic. Today, it is an infrastructure standard across Europe, and it is becoming mandatory in more and more countries. SurePay anticipated this development early on and played a key role in shaping it, becoming a leader wherever they launched their product.”

IRIS has supported SurePay since its Series A funding in 2021, together with Connected Capital and Rabo Investments. Their goal was to help SurePay grow across Europe and build a product that meets both regulatory and technology requirements.

Their services include IBAN-name check, Confirmation-of-Payee (CoP), Verification-of-Payee (VoP), and Fraud Risk Indicator (FRI). They launched the IBAN-name check in the Netherlands in 2017 and have since expanded to other European countries and the UK.

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SurePay works with over 200 banks and 750 companies, processing more than 10 billion payment checks. Their technology helps clients make payments more accurate, stop fraud, follow rules, and run operations more smoothly.

SurePay says that once their system is in place, impersonation scams drop by 81% and wrong payments go down by 67% on average.

SurePay will use the new funding to grow its payment verification and fraud prevention services and to reach more countries in Europe and beyond. The money will also help the company keep serving its top customers well.

Floris Onvlee, Director at Rabo Investments, says, “Since its founding within Rabobank, SurePay has been developed to meet the highest possible financial services quality standards with best-in-class platform reliability, scalability, and security.”

“We believe that this bank-grade heritage, which underpins the many strengths of SurePay’s current offering, has enabled the team to execute with focus, ambition, and credibility to become a European leader in payment verification. Today, their solutions are used by many of the world’s largest financial institutions and corporations, delivering meaningful impact at enterprise scale.”

“After a fruitful partnership with Connected Capital and Iris Capital, we are proud to continue on this growth journey with the SurePay team alongside Carlyle, supporting Rabobank’s corporate venture strategy to build a stronger and more secure financial ecosystem.”

Carlyle is an investment company that manages money in three areas: Global Private Equity, Global Credit, and Carlyle AlpInvest. It oversees $453 billion in assets. Carlyle aims to create value for its investors, the companies it invests in, and the communities it works with.

Commenting on the development, Constantin Boye, who leads European growth equity efforts within the CETP investment advisory team at Carlyle, says, “SurePay is a mission-critical payment verification solutions provider with a powerful combination of proven technology and deep relationships across the European and UK banking ecosystem.”

“The team has done an exceptional job building a platform that delivers real, measurable impact in reducing fraud and improving payment accuracy for both financial institutions and corporates. We are excited to partner with Rabo Investments in supporting SurePay as they continue to scale internationally and drive innovation in this increasingly important space.”

About SurePay

SurePay was founded in 2016 by Marcel Rienties and David-Jan Janse. It provides payment verification technology to banks and companies across Europe and the UK.