Why we invested in Lynk, a branded payments platform
Launching new fintech products has historically been a time consuming and expensive process. Banks and other financial services companies have to invest in highly skilled engineering teams and navigate what can be cumbersome regulatory compliance requirements.
But now, instead of re-inventing the wheel, companies can use Lynk’s branded payments platform in order to quickly roll-out new products and services. The innovative new solution solves many of the capital and compliance hurdles for small- and medium-size businesses. In particular, Lynk’s platform helps companies reduce processing fees by up to 90%, and increase benefits from customer loyalty cards.
We invested in Lynk because its solution enables companies to focus more on developing innovative products and services, and less on overcoming financial and regulatory obstacles. Samsung Next joined in a $3 million Seed round. Other investors include Tribe Capital, Plug and Play, and Simplex Trading.
The Lynk team is led by CEO Nabi Awana, whose experience includes product management for PayPal, Honeywell, IBM, SAP, and Electronic Arts. Prior to launching Lynk, Nabi was chief product officer at Rappi, where he helped to raise nearly $3.4 billion to launch new banks and credit programs throughout Latin America. Ali Sedighi, co-founder and Vice President of Operations, has more than 15 years of technology, SaaS, and fintech experience. He previously worked at companies such as Paypal, VMWare, IT Glue, Function Point, and SolidWorks.
The Lynk platform provides financial back office support, and facilitates web and mobile access with easy-to-use APIs and SDKs. The platform also streamlines app development for the Apple and Android mobile operating systems. A partnership with Mastercard enables Lynk to offer credit card processing and other banking services.
Lynk’s business model includes revenue from interchange and subscription fees. It also generates income from API and SDK fees. The company’s economical platform makes it an attractive option for companies and marketplaces offering financial products and services.
Lynk’s branded payment solution promises to transform financial service delivery with better data sharing, optimized process management systems, and customizable web interfaces. We think Lynk’s end-to-end platform is in a good position to grow by helping companies start and manage their businesses without high costs and time-consuming operational challenges.
Lizzy Goldman is an Investor at Samsung Next. Samsung Next’s investment strategy is limited to its own views and does not reflect the vision or strategy of any other Samsung business unit, including, but not limited to, Samsung Electronics.