Cobalt and Sorainen Advise on Kevin Series A Funding Round

Cobalt and Sorainen Advise on Kevin Series A Funding Round

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Cobalt has advised Lithuanian financial technology start-up Kevin on raising USD 65 million in a Series A funding round. Sorainen advised investor Global PayTech Ventures.

According to Cobalt, "the financing round was led by Accel, with Eurazeo, and previous backers OTB Ventures, Speedinvest, OpenOcean, and Global Paytech Ventures also participating. Harry Stebbings of 20VC, Ilkka Paananen, CEO & Co-Founder of Supercell, and Amitabh Jhawar, ex-CEO of Venmo are some of the individuals also investing in the round."

Kevin focuses on mobile payments and POS payments and offers a B2B payment solution, which allows corporate customers to make direct transactions from their bank accounts to corporate bank accounts.

"The new investment will be used to secure 35% coverage of POS payment terminals across Europe while working towards achieving over 85% by the end of 2023," Sorainen informed.

Cobalt and Sorainen previously advised on Kevin's seed funding round (as reported by CEE Legal Matters on November 9, 2021).

The Cobalt team included Partner Akvile Bosaite.

The Sorainen team included Partner Mantas Petkevicius, Counsel Jonas Kiauleikis, and Senior Associate Mindaugas Baniulis.