The startup provides an open banking payments and data platform that enables businesses to integrate account-to-account payment and data APIs into their applications and websites. This platform facilitates various payment methods, including e-commerce and invoice payments, addressing the need for seamless access to open banking solutions across different business sizes and capabilities.
Funding
$2.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Small and medium-sized enterprises (SMEs) often face challenges in managing various aspects of their business, including payment processing, inventory, order management, and supplier relations, leading to inefficiencies and increased operational costs. Existing payment solutions can be expensive, while managing business operations across multiple platforms can be cumbersome and time-consuming.
Solution
Fena provides an open banking payments and business toolkit designed to streamline operations for SMEs. The platform offers a unified solution for managing e-commerce and wholesale businesses, integrating account-to-account payment APIs with tools for product information management, inventory and stock control, order aggregation, and supplier management. By leveraging open banking, Fena enables businesses to accept payments directly from customer bank accounts, reducing transaction fees and improving cash flow. The platform also supports various payment methods, including online payments, payment links, invoice payments, and QR code payments, providing flexibility for different business needs.
Target Audience
Fena primarily targets small and medium-sized e-commerce businesses, B2B sellers, wholesalers, and service providers looking to streamline their payment processes and business operations through a unified platform.
Features
- Account-to-account payment APIs for secure and low-cost transactions
- E-commerce plugins for seamless integration with online stores (WooCommerce, Magento, PrestaShop, OpenCart)
- Payment links and QR code payments for flexible payment options
- Invoice payment solutions with automated reminders and easy reconciliation
- Open Banking Data APIs for user insights and informed business decisions
- Recurring payment functionality for subscriptions and installments
- Product Information Management (PIM) to store and manage product details
- Inventory and Stock Management to track inventory levels
- Order Aggregation and Management to streamline order processing
- Supplier Management to maintain supplier relationships
- Mobile ordering and terminal apps for in-person sales