What Verestro (formerly uPaid) does

Verestro is a Warsaw-based Fintech-as-a-Service company providing embedded finance and Banking-as-a-Service infrastructure to banks, fintechs, merchants, insurtechs, lendtechs, crypto companies, and employers across 160+ countries. Formerly known as uPaid and rebranded, the company has scaled to 170+ professionals serving 100+ business partners and managing 5M+ cards globally. The platform is organized into three product pillars: Cards & Tokenization (Card Issuing & IBAN, Card Tokenization/TMP, NFC Issuer Wallet for iOS, Business Account, Bank Account Tokenization); Payments (Money Transfers, Online Payment Gateway/Paytool, QR Payments, PCI Zone); and Value-Added Services (Banking-as-a-Service, White Label Mobile App, Business Control, Rewards & Loyalty, Carbon Calculator, VIP Access Control). Underlying infrastructure includes the Transaction History Core (THC) API for cross-product data aggregation and the Paytool Web SDK for embedded payment forms, with REST-based OpenAPI access across sandbox, beta, and production environments authenticated via mTLS and Basic Auth.

Verestro's technology stack integrates with major card networks (Visa, Mastercard, Maestro), wallets (Google Pay, Apple Pay), and the Polish BLIK system, with Fenige serving as the core acquiring partner providing settlement and Dynamic Currency Conversion. The company maintains PCI DSS compliant card data storage and GDPR compliant processing, with a Data Protection Officer function in place. Distribution is API-first with a hybrid motion combining direct enterprise sales (demos and consultations) and a self-service Developer Zone. Revenue is generated through payment processing transaction fees on the Paytool gateway, recurring subscription-style fees on BaaS and card issuing programs, and acquirer settlement economics, with custom quote-based enterprise pricing and multi-year contracts.

The company is privately held as Verestro SA, a Polish Spółka Akcyjna, with no disclosed parent company or institutional ownership structure. Strategic moves include the 2018 acquisition of GoPay, a 2020 strategic investment from Mastercard, and the Fenige acquiring partnership. The leadership team includes Krzysztof Drzyzga as CEO and Co-owner and Cezary Smorszczewski as Chairman of the Supervisory Board.

Name

Verestro (formerly uPaid)

Legal name

Verestro SA

Website

https://verestro.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

Verestro is a Warsaw-based Fintech-as-a-Service platform providing embedded finance, Banking-as-a-Service, card issuing, payment gateway (Paytool), and white-label mobile banking infrastructure to 100+ banks, fintechs, merchants, and other businesses across 160+ countries.

Ownership category

akta.pro rank

Product category

Fintech-as-a-Service / Banking-as-a-Service Infrastructure

NAICS

Credit Card Issuing (52221)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK)

akta.pro secondary industries

Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)

Keywords

• Embedded finance
• Banking-as-a-service
• Payment processing
• Card issuing
• White label fintech

Headquarters

HQ city

Warsaw

HQ country

Poland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Payment Processing Fees: Revenue generated from processing payment transactions through the Paytool gateway, including card payments, Google Pay, Apple Pay, and BLIK transactions
2. Banking as a Service / Card Issuing: Fees from providing banking infrastructure, card issuance, and tokenization services to fintechs, banks, and other businesses
3. Acquirer Settlement: Integration with acquirers like Fenige for transaction settlement and processing

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Verestro provides a global Fintech-as-a-Service platform that enables businesses to integrate embedded finance and Banking-as-a-Service capabilities via a unified API. Core offerings include Card Issuing & IBAN, Card Tokenization for digital wallets, an Online Payment Gateway (Paytool), Money Transfers, Business Accounts, and White Label Mobile Apps, supporting banks, fintechs, merchants, and other businesses across 160+ countries.

Product overview

Verestro is a Global Fintech-as-a-Service platform enabling embedded finance and Banking-as-a-Service (BaaS) solutions. The platform is structured around three core product pillars: (1) Cards & Tokenization — covering Card Issuing & IBAN, Card Tokenization (TMP), NFC Issuer Wallet for iOS, Business Account, and Bank Account Tokenization; (2) Payments — including Money Transfers, Online Payment Gateway (Paytool), QR Payments, and PCI Zone; and (3) Value Added Services — including Business Control, White Label Mobile App, Banking as a Service, Rewards & Loyalty, Carbon Calculator, and VIP Services Access Control. Supporting infrastructure includes the Transaction History Core (THC) API for cross-product transaction aggregation and the Paytool Web SDK for iframe-based card form embedding. The platform serves 100+ business partners across 160 countries and manages 5M+ cards, targeting banks, fintechs, merchants, insurtech, lendtech, crypto companies, employers, and other businesses.

Differentiator

Problem solved

Functional benefit

Products and services

• Card Issuing & IBAN Enables businesses to quickly issue virtual and physical payment cards and IBAN accounts for their customers, with full program management capabilities, for banks, fintechs, and merchants.
• Card Tokenization - TMP (Token Management Platform) Tokenization platform that enables seamless digital wallet payments via Apple Pay, Google Pay, and other xPay solutions through secure tokenization of card credentials, for banks, fintechs, and merchants.
• NFC Issuer Wallet for iOS Enables NFC-based contactless payments on iOS devices through a native issuer wallet integration, for banks and fintechs deploying card programs.
• Business Account Digital business account functionality providing IBAN management and business banking capabilities for merchants, employers, and other business clients.
• Bank Account Tokenization Secure tokenization service for bank account credentials enabling bank-to-bank payment flows for businesses and fintechs.
• Money Transfers Streamlines global payments with instant money transfer services including P2P, wire transfers, and cross-border payments, for banks, fintechs, and businesses.
• Online Payment Gateway (Paytool) E-commerce payment gateway (Paytool) enabling merchants to accept online payments via card, Google Pay, Apple Pay, and BLIK, with redirect, API, and iframe embed integration models and 3D Secure authentication.
• QR Payments QR code-based payment acceptance enabling customers to pay by scanning merchant QR codes, for merchants and retail businesses.
• PCI Zone PCI DSS compliant card data storage and management zone for Card on File functionality, allowing secure storage of card credentials for repeat transactions by merchants and fintechs.
• Banking as a Service White-label digital banking platform enabling businesses to offer full banking products including accounts, cards, and financial management tools under their own brand, for banks, fintechs, and other businesses.
• White Label Mobile App Customizable white-label mobile banking application that businesses can brand and offer to their end customers, for banks, fintechs, lendtech, and other businesses.
• Business Control Financial management and expense control dashboard for businesses to monitor spending, set limits, and manage employee card access.
• Rewards & Loyalty Loyalty program and rewards management module enabling businesses to create and manage customer reward programs.
• Carbon Calculator Environmental impact tool that calculates carbon footprint based on transaction data and spending patterns, offered to businesses and their end customers.
• VIP Services Access Control Access control module for managing VIP customer tiers, special privileges, and differentiated service levels within banking and fintech apps.
• Transaction History Core (THC) REST API service that aggregates and provides seamless access to user's transaction history across all Verestro-powered products including card issuing, e-commerce payments, and contactless transactions, with real-time access, single/bulk retrieval, and admin/mobile access levels.
• Paytool Web SDK JavaScript SDK for embedding secure card payment forms directly into merchant websites via iframe, providing embedCardForm() and isEmbedError() functions for controlled, styled card input integration.

Quantifiable outcome

• Cost optimization up to 30%
• +2 more outcomes

Named customers7 records

Segments7 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature8 records

Partnerships

One partnership is on record.

• FenigecoreTechnology or IntegrationFenige is a partner acquiring institution fully integrated with Verestro's Paytool solution. Verestro recommends using Fenige as the acquiring partner and they are completely integrated to process transactions. Fenige provides the settlement infrastructure for transactions processed through Verestro's payment gateway.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Marqeta: Public US card-issuing platform providing APIs for virtual and physical card issuance, tokenization, and program management. Comparable to Verestro's Card Issuing & IBAN and TMP tokenization products for fintech and bank clients.
• Solaris SE: Berlin-based Banking-as-a-Service platform offering IBAN accounts, card issuing, lending, and identity services via APIs. Direct European BaaS competitor targeting banks, fintechs, and merchants — overlapping heavily with Verestro's BaaS and white-label offering.
• Treezor: French payment institution providing Banking-as-a-Service, card issuing, and acquiring-as-a-service via APIs. Comparable to Verestro's embedded finance stack serving European fintechs and corporates.
• Mangopay: Luxembourg-headquartered BaaS/PSP offering payment accounts, card issuing, and acquiring orchestration for marketplaces and fintechs. Directly comparable to Verestro's multi-product embedded finance platform with similar European footprint.

Broad incumbents

• Stripe: Global payments infrastructure platform offering Stripe Issuing, Stripe Connect, and Stripe Terminal. Competes with Verestro at the payment gateway, card issuing, and embedded finance layers with vastly greater scale.
• Adyen: Global unified commerce platform providing payment processing, acquiring, and issuing services. Competes with Verestro's Paytool gateway and multi-acquirer value proposition, particularly for enterprise merchants.
• Checkout.com: Global payments processor offering acquiring, card issuing, and embedded financial services. Overlaps with Verestro's payment gateway and card issuing capabilities, primarily competing for enterprise merchant volume.
• Plaid: Financial data and payments connectivity platform powering account linking, bank transfers, and fraud signals. Adjacent competitor to Verestro's Transaction History Core and money transfer services for fintech clients.
• SumUp: Global fintech providing card acceptance, business accounts, and SumUp Pay Later across multiple geographies. Overlaps with Verestro's merchant payment processing and card issuing propositions for SMBs.

Regional players

• Mollie: Amsterdam-based payment service provider offering multi-acquirer payment processing and merchant accounts across Europe. Comparable to Verestro's Paytool gateway for SMB and mid-market merchants in Europe.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@verestro
• LinkedInlinkedin.com/company/verestro

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Verestro (formerly uPaid)