Maven Capital Partners has led a multi-million investment into Newcastle based fintech specialist, Kani Payments.
The transaction includes an investment from the Maven VCTs alongside NPIF II – Maven Equity Finance, which is managed by Maven as part of the Northern Powerhouse Investment Fund II.
Founded in 2018, Kani was created to address the complex challenges of payment reconciliation and reporting faced by banks, payment companies and other fintechs. The company’s award-winning SaaS platform automates, simplifies, and streamlines the process to save clients time and money, while ensuring compliance with industry and regulatory requirements.
The combined investment will be used to further develop Kani’s highly scalable platform, grow its team, and support international expansion. With increasing digitisation in financial services, alongside greater global safeguarding regulations, the requirement for compliant reporting solutions is greater than ever, positioning Kani for continued success.
Kani operates across five continents and has reconciled over 24 billion in processed payments to date. Kani’s innovative platform is currently used and trusted by many leading financial services companies such as Cardaq, Paysafe, Pluxee, and Transact Payments.
Rebecca MacDermid, Investment Manager at Maven Capital Partners, said: “Kani has developed an innovative, awardwinning platform that is addressing a critical challenge in the fast-evolving payments industry. The company’s proprietary technology, coupled with the team’s deep sector expertise, has helped the business achieve year on year growth with annual recurring revenues sharply increasing in the last year, driven by a 70% increase in clients. With the increasing complexity of payment reconciliation and regulatory compliance, demand for Kani’s solution is set to grow further. We are excited to support Aaron and his team as they scale the business and expand into new global markets, particularly with significant opportunities emerging in the US.”
Aaron Holmes, CEO at Kani Payments, added: “This investment marks a pivotal moment in Kani’s evolution as we expand our automated reconciliation platform to meet surging global demand. With processed payments exceeding 24 billion and our client base spanning five continents, we see firsthand how critical automated reconciliation has become for financial institutions. Maven’s backing will accelerate our platform development and global expansion, particularly as we see increasing opportunities in markets where regulatory compliance and payment reconciliation complexity continue to grow.”
Tony Kerr and Craig Dewar, Co-founders and Directors at Kani Payments, said: “This is the perfect time for Kani to bring on investment from an institutional firm like Maven. Their backing is a strong endorsement of Kani’s vision, capabilities, and growth trajectory. This investment not only validates its position in the payments sector but also fuels the ability to scale rapidly, innovate further, and expand into new markets. With Maven’s support, the business is well-positioned to accelerate its mission of transforming payment reconciliation and reporting for businesses worldwide.”
Sarah Newbould, Senior Investment Manager, at the British Business Bank, said: “The North East has experienced a recent boom in tech growth and is now home to a broad ecosystem of thriving businesses. NPIF II was created to help foster growth in innovative companies like Kani Payments to further drive the region forward, create highly skilled jobs and cement the North East as a hub for tech talent.”
Maven is one of the UK’s most active private equity investors and has a track record of identifying and nurturing technology-driven businesses. If you are looking at private equity as a solution to fund future growth we would love to hear from you.
Find out more at mavencp.com