Klarpay, a financial institution regulated by FINMA with offices in Cyprus, has announced its profitability for the first year of operation. In Q1 2022, the Payabl Group led a CHF 3 million seed funding round to support Klarpay’s growth. On February 14, 2023, the company confirmed that it had achieved profitability within its first operational year. According to the announcement, Klarpay closed 2022 with over 120 corporate clients and became profitable on a monthly basis by August 2022. However, no further details were disclosed.
“We are thrilled to have reached this significant milestone,” stated Klarpay. “Our commitment to a sustainable business model distinguishes us from many fintech companies that struggle to achieve profitability, particularly in the early stages of their development. We look forward to building on this success in the coming year.”
Martynas Bieliauskas, CEO and Co-founder of Klarpay
Company Overview
- Trading Name: Klarpay
- Business Activity: Payment Processor, Merchant Service Provider
- Website: klarpay.com
- Legal Entity: Klarpay AG
- Jurisdiction: Switzerland
- Regulator: FINMA
- Social Media Presence: LinkedIn, Twitter, Medium
- Investor: Payabl.cy Limited (formerly PowerCash21 Limited), Cyprus
Key Personnel
- Mihkel Vitsur – Chairman (LinkedIn)
- Beatrice Kern – Vice Chairwoman (LinkedIn)
- Alena Nicolai – Board Member (LinkedIn)
- Marianna Markidou (LinkedIn)
- Persia Papafylaktou (LinkedIn)
- Martynas Bieliauskas – CEO (LinkedIn)
- Jeff-Richard Angehrn – CFO (LinkedIn)
- Marc Evans – COO (LinkedIn)
- Christos Alatzidis – CTO (LinkedIn)
- Ugne Buraciene – Advisor (LinkedIn)
Background and Corporate Structure
Klarpay appears to be a spin-off of BDSwiss, the investment firm associated with Jan Eric Malkus. Many key Klarpay executives previously held roles at BDSwiss, and the company maintains a strong presence in Cyprus.
Several key figures in Klarpay have prior ties to BDSwiss:
- Mihkel Vitsur, former Chairman of BDSwiss, is a co-founder and Chairman of Klarpay.
- Martynas Bieliauskas, ex-Director and co-founder of BDSwiss Group, co-founded Klarpay and serves as CEO.
- Christos Alatzidis, former CIO & CTO of BDSwiss, co-founded Klarpay and serves as CTO.
- Marc Evans, previously CFO at BDSwiss, joined Klarpay as CFO in February 2022.
- Marianna Markidou, formerly Head of Back Office at BDSwiss, joined Klarpay in January 2022.
- Persia Papafylaktou, former Marketing Coordinator at BDSwiss, joined Klarpay in March 2022.
Further Information
If you have any insights or details regarding Klarpay, Payabl, or its executives and partners, you are encouraged to share them through the Whistle42 whistleblower system.