Nopan bags €7.2M: The ex-Netflix duo on a mission to close the reliability gap in Europe’s bank and wallet payments

Nopan has raised €7.2M to date, including a recent round led by Newion and support from Crane and Seedcamp.
Based in Amsterdam, Nopan has a payment institution licence from the Dutch central bank and is a Principal Member of the European Payments Initiative, helping to grow Wero.
This funding arrives at a time when the global open banking market, which covers account and wallet payments, is expected to grow from $51 billion in 2026 to $287 billion by 2033.

When working on Netflix’s Amsterdam payments team, Konstantin Surkov and Nick Ryabov noticed that account and wallet payment methods started strong but struggled as they grew. This challenge led them to start Nopan.

The company has raised €7.2M so far, with recent backing from Newion, Crane, Seedcamp, and angel investors in merchant payments and fintech.

“Nick and I experienced first-hand how much value can be created when payment methods are properly optimised. Launching a new payment method is only the beginning. The real challenge is making it perform reliably across banks, customer behaviours, operational processes and, where relevant, across markets,” says Surkov, co-founder and CEO of Nopan.

Why account and wallet payments still fall behind cards

Merchants have come to trust card payments over many years. Account and wallet payments, such as direct bank-to-bank transfers and wallet-based options like Wero, still have some catching up to do. According to Coherent Market Insights, the global open banking market for these payment types is expected to grow from $51 billion in 2026 to $287 billion by 2033, with a 28% annual growth rate.

Nopan was founded in 2024 by Surkov, who managed payment processing and fee optimisation at Netflix’s European headquarters and also worked at Visa and Global Payments, and by Ryabov, an engineer with experience at Netflix and Microsoft. The company now has nine employees.

Instead of building new payment connections from scratch, Nopan focuses on improving the routing, bank connectivity, and performance of the account and wallet payment methods that merchants have already deployed. For example, retailers offering Wero at checkout might see more failed or abandoned payments compared to cards, and Nopan works to close that gap.

The company says it is already live with initial customers and is seeing growing commercial interest from enterprise businesses and payment service providers across Europe.

A crowded market, but a clear focus

TrueLayer has raised $321.8 million and reached a $1 billion valuation. Volt has raised close to $100 million, including a $60 million Series B. Tech Funding News has also reported on Banked, another account-based payments challenger to Tink, Token and TrueLayer.

While these companies focus on connecting merchants to banks, Nopan works on improving payment methods that are already running, once someone else has done the connecting.

Nopan secured its payment institution licence from De Nederlandsche Bank, the Dutch central bank, in the fourth quarter of 2025, covering the European Union. It is also a Principal Member of the European Payments Initiative, which runs Wero. This gives Nopan an early foothold as Wero grows from peer-to-peer transfers into e-commerce, recurring payments and digital identity across France, Germany and the Benelux region.

“Account and wallet payments represent a major opportunity, but the infrastructure required to make them perform at scale is still emerging. With its deep merchant-side payments experience and highly focused technology platform, we believe Nopan is uniquely positioned to become a category leader in this next phase of payments,” says Pieter Welten, partner at Newion.

Newion, a venture firm based in Amsterdam, recently closed a €130 million first round of its fourth fund to support early-stage B2B software companies in the Benelux, Nordics, and DACH regions.

The round’s other backers bring their own track records. Crane, a London-based early-stage investor founded in 2015, has backed companies across post-quantum security, robotics, infrastructure software, developer tools and AI systems. Seedcamp, a European seed fund founded in 2007, has written the first check into more than 500 companies, including Revolut, Wise, UiPath, Synthesia and Fluidstack.

The new funding will help Nopan expand its coverage of account and wallet payment methods across Europe, deepen its optimisation tools and grow its commercial presence with digital businesses and payment service providers.

Cards slowly gained merchants’ trust. Nopan wants to speed up that process for account and wallet payments, as long as the post-sale infrastructure gets as much attention as the initial connection.