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Fintech startup Waytobill secures MSEK 5.5 investment to pioneer recurring payments

Payment solution fintech company Waytobill has raised a MSEK 5.5 investment round led by Wellstreet, alongside seasoned angel investors such as Nordic Angel investor Micael Holmström.
Published:
October 19, 2023
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Fintech startup Waytobill secures MSEK 5.5 investment to pioneer recurring payments

Press Release

Fintech company Waytobill, focused on developing seamless payment solutions for businesses and organisations with subscriptions as a business model, has raised a MSEK 5.5 investment round led by Wellstreet, alongside seasoned angel investors such as Nordic Angel investor Micael Holmström.

Waytobill has a vision to revolutionise the Nordic payment sector within recurring payments and has already established a strong presence, currently targeting sectors like membership - and charity organizations, and insurance companies. The funding secured in this round will be instrumental in propelling Waytobill toward its goal of redefining the landscape of recurring payments, making them more efficient and user-friendly.

The company was founded in 2022 by Magnus Bendelin and Alejandro Pino with over 25 years of combined experience in the fintech industry. Since the start the company has experienced a rapid growth and now supports over twenty customers with a team of 13 specialists.  

Magnus Bendelin, CEO of Waytobill, says: 

Wellstreet offers support that transcends monetary backing. Their track record in nurturing fintechs equips Waytobill with the strategic acumen necessary to fulfil our ambitious objectives. Our partnership, fortified by the insights of Wellstreet’s fintech experts Armando Coppola and Joseph Hajj, marks a transformative phase for us. This investment amplifies our growth trajectory and cements our dedication to innovating the insurance payment realm in the Nordic region.

Armando Coppola, fund manager and partner at Wellstreet, comments: 

At Wellstreet, we're not looking for the next big thing – we're looking for the next revolutionary thing. Our investment approach is strategic and forward-thinking, aiming to identify startups that can transform the financial landscape through technological innovation. I believe that there is a huge market potential in digitalising recurring payments, not just in the Nordics. Waytobill are solving this and I look forward to our partnership.

About Waytobill:

Waytobill is a pioneering Swedish fintech start-up that specialises in providing seamless payment solutions for businesses and organisations with subscriptions as a business model. The company’s user-friendly payment solutions empower businesses to improve and maximise results while providing an exceptional payment experience for customers.

About Wellstreet:

Wellstreet is a multi-fund VC, investing in startups primarily in the Nordics. Wellstreet has invested in several successful technology companies including Tibber, DanAds, Checkin.com, Scrive, and Bambuser. The firm is committed to building and accelerating the innovations and entrepreneurs of today, leading to a better and sounder tomorrow.

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