Dublin, July 12, 2021 – WhenThen, the no-code payment operations platform, raised $6M in their seed funding round, co-led by Cavalry and Stride.VC. WhenThen allows a business to create any type of payment flow in minutes and orchestrate how, when, where and why it collects, processes, and pays out payments – all through a simple to use no-code interface. WhenThen super-charges the most sophisticated merchants by providing the only complete solution for managing complex payment flows on any payment gateway. The platform empowers these merchants to understand, automate and optimise their payment flows resulting in higher customer conversion and revenues and lower overhead and costs.
"We see traditional businesses embracing e-comm, and e-comm merchants now operating multiple business models such as trade supply, marketplace, subscription, and more. There is no platform that makes it easy for such businesses to create and operate multiple payment flows to support multiple business models in one place – that's where we step in," said Kirk Donohoe CEO and co-founder of WhenThen.
Harnessing the power of consumer payments innovation
Innovative new payment methods are proliferating, bringing both opportunities and challenges. In the past year alone, payment startups have raised in excess of $3B in funding. Whilst everyone is keen on delivering silky smooth user experiences and break away from traditional "shop-checkout-pay" thinking, innovators find that they need to deal with an enormous amount of complexity to build and maintain these new payments flows.
"Basic payment orchestration platforms have been around for some time, focusing mostly on maximising payment acceptance by optimising routing. WhenThen provides the first end-to-end payment flow platform to equip businesses with the opportunity to control every stage of the payment flow from payment intent to payout," explained Claude Ritter, managing partner at Cavalry.
WhenThen supports a wide range of popular payment providers such as Stripe, Braintree, Adyen, Authorize.net, Checkout.com, etc., and a variety of alternative and locally preferred payment methods such as Klarna Affirm, PayPal, BitPay, and many more. With a solid infrastructure in place, WhenThen provides merchants with the option of operating PSP-agnostic and allows them to switch providers seamlessly.
"For brave merchants considering global reach and operating multiple business models concurrently, I believe choosing the right payment ops platform will become as important as choosing the right e-commerce platform. Building your entire ecomm experience tightly coupled to a single payment processor is a hard correction to make down the line – you need a payment flow platform like WhenThen," added Fred Destin, founder of Stride.VC.
The brainchild of ex Mastercard veterans
WhenThen was founded by Kirk Donohoe, Eamon Doyle and Dave Brown, who have extensive experience in the payment industry. Together, they also built some of the most innovative solutions Mastercard has launched in the last decade, such as Mastercard InControl, Simplify and QKr!. They previously founded Solvers, a leading fintech and payment product consultancy agency that achieved considerable growth and revenue and partnered with brands such as Airbnb, American Express, British Airways, Mastercard and Bank of Montreal.
When asked how he and his team came up with the idea for WhenThen, Kirk Donohoe explains: "When you can't execute on your core business goals because your engineering team is distracted building and maintaining payment flows and integrating new payment gateways and other business platforms into them, a platform that allows you to do it all in one place, in minutes not months, really is a no-brainer".
WhenThen the world's first complete payment ops platform. The platform allows businesses to create and automate any type and number of payment flows from capture payment on delivery to marketplace payouts without code. WhenThen was founded by Kirk Donohoe, Eamon Doyle and Dave Brown in 2020 and is based in Dublin, Ireland.
For more information: www.whenthen.com
Founded by entrepreneurs and operators, Cavalry is a European early-stage venture capital fund focusing on pre-seed and seed stage. In addition to the team’s company building expertise, portfolio companies gain access to a cross-sector, global and exclusive network of more than 180 angel investors, entrepreneurs, scientists, business experts, and many more, who provide advisory and operational support in areas such as strategy, organisational development, product development, sales, international expansion, recruiting and marketing.
The portfolio comprises more than 40 companies including Forto, McMakler, PlanRadar, BRYTER, and REKKI. Cavalry is headquartered in Berlin and invests across Europe.
For more information: www.cavalry.vc
Stride.VC is a venture capital firm based in London and dedicated to supporting entrepreneurs from the earliest days of their journey through to scaling. Company building is a craft and we focus on high-impact support through the complex decisions that are part of the journey of bringing a concept from ideation to market and building high-performance, resilient teams to execute on the vision. Each company is unique and we eschew recipes and theory in favour of hands-on, practical support as well as hard-hitting strategic engagement on the topics that matter. We thrive on chaos. Just as our founders, we are long-term thinkers and fast decision-makers. We cherish differences.
For more information: https://stride.vc/