Torus Secures Investment from Goose Valley Ventures to Enhance FinTech Solutions
Deal News | Dec 12, 2024 | EIN
Goose Valley Ventures (GVV), a venture capital firm with expertise in FinTech investments, has announced its investment in Torus, a SaaS intelligence platform based in Lithuania. This strategic partnership focuses on addressing the prevalent lack of transparency in fees charged by prominent card schemes like Visa and Mastercard, which represents a $13 billion challenge in the financial sector. Torus has already begun to make significant strides in this area, boasting ten customers and an Annual Recurring Revenue (ARR) of $1 million, and achieving the 76th spot on Europe’s Stifed 250 Fastest-Growing Startups list for 2024. Robin Egerot, General Partner at Goose Valley Ventures, commented on their yearlong tracking of Torus, underscoring the company's innovation and market potential. Kirill Lisitsyn, CEO and Co-Founder at Torus, highlighted the momentum the company is gaining and the valuable expertise and network GVV will contribute to Torus' growth trajectory. Based in Stockholm, Sweden, Goose Valley Ventures is dedicated to supporting high-potential startups in the Nordic and Baltic regions with over $10 million in assets under management.
Sectors
- Financial Technology (FinTech)
- Venture Capital
- Payment Processing
Geography
- Lithuania – Torus is a FinTech company based in Lithuania.
- Sweden – Goose Valley Ventures, the investor, is based in Stockholm, Sweden.
- Nordic and Baltic Regions – These regions are the focus area for Goose Valley Ventures' investments.
Industry
- Financial Technology (FinTech) – The investment centers around a FinTech solution, with Torus providing a platform to address issues in card payment transparency.
- Venture Capital – Goose Valley Ventures is a venture capital firm investing in emerging startups.
- Payment Processing – Torus operates within the payment processing industry by addressing fee transparency amongst card payment schemes.
Financials
- $1 million – Annual Recurring Revenue (ARR) for Torus.
- $13 billion – The transparency challenge in card scheme fees Torus aims to solve.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Goose Valley Ventures | Venture Capital Firm | Company | A venture capital firm focused on FinTech investments in the Nordic and Baltic regions. |
| Torus | Target Company | Company | A Lithuanian FinTech company providing a SaaS platform for transparency in card scheme fees. |
| Robin Egerot | General Partner | Person | General Partner at Goose Valley Ventures involved in the investment decision. |
| Kirill Lisitsyn | CEO and Co-Founder | Person | CEO and Co-Founder of Torus. |