Amsterdam payment startup Klearly raises €12 million in investments

Amsterdam start-up Klearly, which provides payment solutions for the hospitality sector, has secured 12 million euros in fresh investment. The funding includes participation from PayPal’s investment division.

Klearly also secured investment in Italy, a key market it hopes to grow with the new funds. The Italian Founders Fund joined the financing round, along with several existing investors. Since 2023, the start-up has raised a total of 20 million euros, including earlier backing from former executives of payment companies Mollie and Adyen.

Founded in 2022, Klearly specializes in a payment system built to handle busy periods in the hospitality industry. The technology integrates with widely used ordering and POS systems and enables multiple devices to function as card terminals, which the company says speeds up the checkout process for guests.

According to Klearly, over 4,000 hospitality businesses in the Netherlands already use its payment technology. The company plans to expand not only in Italy but also in Belgium.

Italy is considered a logical expansion target because its hospitality sector includes an estimated 300,000+ restaurants, offering considerable potential to boost the scale-up’s growth.

Klearly’s Series A round is led by PayPal Ventures, with participation from the Italian Founders Fund and existing investors like Global PayTech Ventures, Antler Elevate, and Shapers. A Series A round is an early stage of venture funding that provides capital for startups to grow their product and reach new markets. This combination of international and returning investors is intended to speed up both product development and market growth.