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§ Private Profile · 101 Mission St Ste 400, San Francisco, California, 94105, United States
Link Financial Technologies is a technology company.
Link Financial Technologies, operating as Link Money, develops a direct-from-bank payment solution for the US market, leveraging open banking technology. This platform facilitates secure, low-cost transactions, enabling consumers to pay merchants directly from their bank accounts. It bypasses credit card networks, offering an efficient alternative for digital payments and reducing interchange fees.
Eric Shoykhet founded the San Francisco-based company, serving as its Chief Executive Officer. He established Link Financial Technologies recognizing the need for a streamlined, cost-effective, and secure payment rail. His insight involved leveraging open banking to address the reliance on credit card payments in the U.S., benefiting both consumers and merchants.
Link Money targets merchants seeking economical processing and consumers desiring a fast, secure, digital payment method. The company envisions "Pay by Bank" as a primary payment infrastructure across the U.S., making direct bank transfers a preferred method for digital commerce and enhancing financial efficiency.
Link Financial Technologies has raised $30.0M across 2 funding rounds.
Link Financial Technologies has raised $30.0M in total across 2 funding rounds.
Link Financial Technologies has raised $30.0M across 2 funding rounds. Most recently, it raised $20.0M Series A in January 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 1, 2023 | $20M Series A | — | Ganas Ventures, The Community Fund, Valar Ventures | Announced |
| Dec 1, 2021 | $10M Seed | — | Jenny Fielding, Scott Hartley, Pareto Holdings, Techstars | Announced |
Link Financial Technologies (Link Money) is a San Francisco-based FinTech company founded in 2021 that builds an open banking payment platform, enabling merchants to offer low-cost "pay-by-bank" alternatives to traditional card payments and allowing customers to pay directly from their bank accounts for subscriptions, repeat, or one-time purchases.[1][2][3][5] It serves merchants in sectors like travel, tourism, manufacturing, and transportation, solving high payment processing fees and fraud risks through secure API-based bank connections rather than screen-scraping or cards, while empowering consumers with control over their data and economic benefits like lower costs.[1][2][3] The company has shown growth momentum through partnerships, such as with Silicon Valley Bank in 2024 to scale its Pay by Bank solution.[1]
Link Financial Technologies was founded in 2021 in San Francisco, CA, with Eric Shoykhet as co-founder and CEO, who is based in Miami and has advocated publicly for pay-by-bank adoption.[1][3] Shoykhet's vision emerged amid the evolution of open banking, addressing U.S. gaps in instant payments compared to global successes like the UK's 700% transaction growth from 2021-2023 or India's UPI handling billions monthly.[3] Early traction included building persistent, secure API connections to banks—replacing unreliable screen-scraping—and partnerships like the 2024 Silicon Valley Bank collaboration to expand its solution, marking a pivotal scaling moment.[1][3]
Link rides the open banking and pay-by-bank trend, capitalizing on U.S. regulatory shifts toward secure APIs and potential instant payment rails like those powering global booms—e.g., UK's 8.5 million monthly transactions by 2023 or Brazil's $200B on Pix.[3] Timing aligns with post-2020 fraud concerns and card fee pressures, positioning Link to claim market share as open banking clarifies, unlike stagnant screen-scraping.[3] It influences the ecosystem by promoting account-to-account payments, lowering barriers for merchants, and fostering consumer trust in direct bank links, potentially accelerating FinTech adoption in a card-dominated U.S. market.[2][3]
Link is poised to expand as U.S. open banking matures with clearer regulations and instant rails, potentially mirroring international growth trajectories while deepening merchant integrations in high-volume sectors.[3] Trends like rising ACH reliability and fraud prevention will shape its path, with partnerships signaling strong momentum toward broader liquidity events via platforms like EquityZen.[1] Its influence may evolve from niche player to key infrastructure, redefining payments by prioritizing bank-direct efficiency over legacy cards—echoing its core mission to unlock low-cost, consumer-controlled alternatives.[2][3]
Link Financial Technologies has raised $30.0M in total across 2 funding rounds.
Link Financial Technologies's investors include Ganas Ventures, The Community Fund, Valar Ventures, Jenny Fielding, Scott Hartley, Pareto Holdings, Techstars.