About OpenTransact
OpenTransact is a company based in New York (United States) founded in 2010 by Mark Kilaghbian and Jake Howerton.. OpenTransact has raised $2.63 million across 3 funding rounds from investors including Scout Ventures and Village Ventures. OpenTransact has completed 1 acquisition, including WorkingPoint. OpenTransact operates in a competitive market with competitors including Square, Klarna, Flutterwave, Afterpay and Zip, among others.
- Headquarter New York, United States
- Founders Mark Kilaghbian, Jake Howerton
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Sectors
Financial ServicesRetail
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$2.63 M (USD)
in 3 rounds
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Latest Funding Round
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Investors
Scout Ventures
& 1 more
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Employee Count
Employee Count
- Investments & Acquisitions
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Funding Insights of OpenTransact
OpenTransact has successfully raised a total of $2.63M across 3 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Last Round
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First Round
First Round
(11 Aug 2011)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2013 | Amount | Seed - OpenTransact | Valuation |
investors |
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| Aug, 2012 | Amount | Seed - OpenTransact | Valuation |
investors |
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| Aug, 2011 | Amount | Seed - OpenTransact | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in OpenTransact
OpenTransact has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Scout Ventures and Village Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Early-stage venture capital investments in frontier technologies are made.
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Founded Year | Domain | Location | |
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FinTech & Media focused seed and early stage VC firm investing in the US
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by OpenTransact
OpenTransact has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include WorkingPoint. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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SaaS bookkeeping and invoicing are offered for small businesses.
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2005 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - OpenTransact
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Opentransact Comparisons
Competitors of OpenTransact
OpenTransact operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Square, Klarna, Flutterwave, Afterpay and Zip, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
POS solutions are provided for retail businesses.
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| domain | founded_year | HQ Location |
Point-of-sale financing is facilitated through an online platform for purchases.
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| domain | founded_year | HQ Location |
Provider of payment processing solutions for businesses
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| domain | founded_year | HQ Location |
A buy now pay later service is offered by Afterpay.
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| domain | founded_year | HQ Location |
Payment solutions are provided for deferred purchasing by Zip.
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| domain | founded_year | HQ Location |
Point-of-sale financing is facilitated via an online platform for retailers.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about OpenTransact
When was OpenTransact founded?
OpenTransact was founded in 2010 and raised its 1st funding round 1 year after it was founded.
Where is OpenTransact located?
OpenTransact is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of OpenTransact?
Mark Kilaghbian is the current CEO of OpenTransact. They have also founded this company.
Is OpenTransact a funded company?
OpenTransact is a funded company, having raised a total of $2.63M across 3 funding rounds to date. The company's 1st funding round was a Seed of $775.3K, raised on Aug 11, 2011.
What does OpenTransact do?
OpenTransact was founded in 2010 in New York, United States, focusing on the fintech sector. A unified platform is offered to consolidate, automate, scale, and monitor payment operations for businesses. Compatibility is ensured with mobile devices, tablets, desktops, and existing payment terminals. This setup allows merchants and customers to handle shopping, payments, and order completions across various devices.
Who are the top competitors of OpenTransact?
OpenTransact's top competitors include Flutterwave, Sunbit and Klarna.
How many acquisitions has OpenTransact made?
OpenTransact has made 1 acquisition, including WorkingPoint.
Who are OpenTransact's investors?
OpenTransact has 2 investors. Key investors include Scout Ventures, and Village Ventures.