Whistleblowers Confirm Suspected Links Between OpenUp and iPayTotal
Acknowledgment
We thank the whistleblowers who have come forward with insider information, helping to expose payment processors and schemes operating in the high-risk financial sector. These contributions remain essential in the fight against online financial misconduct.
Who Is Behind OpenUp?
OpenUp (LinkedIn profile) is a high-risk payment processor operating under the name Openup Consulting Services AsP, a company registered in Denmark. Ownership leads to Chestnut Investments Lda, based in Portugal. The only officially registered director is Svetlana Ivanova.
A search on LinkedIn revealed at least a dozen individuals allegedly connected to OpenUp across various jurisdictions. Following a recent whistleblower request, a former employee reached out and confirmed the connection between OpenUp and the controversial Indian-British iPayTotal Group, co-founded by Ruchi Rathor. This individual offered additional confidential material in exchange for payment.
Shady Profiles and Questionable Background
Based on prior experience with iPayTotal, which is known for using fake identities and fabricated LinkedIn accounts, there is reason to approach all OpenUp-linked profiles with skepticism. We were unable to locate Svetlana Ivanova on LinkedIn or verify the authenticity of the other profiles affiliated with the company.
Of particular interest is Samuel O (LinkedIn), a Nigerian payments specialist who had been associated with Kryptova—another entity previously linked to iPayTotal—until March 2022. Shortly after our inquiry was published, his LinkedIn profile was deleted.
What OpenUp Claims to Offer
Positioning itself as a modern financial services company, OpenUp promotes a wide range of offerings. These include merchant account services with custom IBANs, SWIFT capabilities, and card processing; company formation and support with opening business bank accounts; and financial support for fintech startups, with investments reportedly ranging from $5,000 to $15 million. The presence of UK-based phone numbers on the website implies that the company is actively operating from within the United Kingdom, despite its corporate registration in Denmark and Portugal.
Trustpilot Rating Raises Red Flags
Although OpenUp boasts a high Trustpilot rating of 4.8 stars, this reputation appears to be inflated. A closer look at the reviews reveals that many of them come from accounts with no prior activity. One reviewer, Hector Gross, posted a 5-star review for OpenUp. Interestingly, the same individual had also written glowing reviews for other fraudulent operations, such as Buffets Finance and Claim Justice, indicating a potential pattern of fabricated endorsements.
Listed on PayRate42’s Red Compliance Category
Due to mounting concerns, OpenUp has been flagged by PayRate42, a platform that monitors cyberfinance operations. The agency currently lists the company in its Red Compliance section, suggesting serious regulatory or reputational risks.
Call for Additional Information
We are actively seeking further details regarding OpenUp and any of its possible affiliations with the iPayTotal Group or related networks. If you have relevant information about its activities, partnerships, or leadership, please share your insights.
Information can be submitted directly to the Scam-or Project.