#Payments / Volante, a New York-based payment-as-a-service (PaaS) fintech, has decided to raise outside capital

The global PaaS market was valued at $6.2 billion in 2019. But it’s expected to grow at a compound annual growth rate (CAGR) of 16.9% from 2020 to 2027… The wider global payments industry is also continuing to grow steadily. It brought in revenues of $1.9 trillion in 2018, according to McKinsey & Company, marking a sustainable growth level of 6%.

Volante says it will invest its fresh capital in its existing payments as a service product suite… The fintech also plans to grow its client base, with a particular focus on growing its market presence in the Asia-Pacific region.

[Wavecrest’s co-founder:] says Volante “has built an impeccable reputation as a fintech” to “quickly enter and dominate new markets… Shortly after launching their Volante Designer financial messaging platform, they became providers to some of the world’s largest custodians and exchanges.”