Lithuanian startup Kashimi raises $1.36M

Lithuanian startup Kashimi has raised $1.36 million in a pre-seed funding round to expand its alternative payment infrastructure for licensed financial institutions. The round was co-led by Coinvest Capital and Impellent Ventures, joined by Plug and Play Tech Center and several international business angels.

Kashimi is a Vilnius-based company that develops alternative payment infrastructure for regulated and licensed financial institutions. Its technology allows banks, organizations that issue electronic money, and other payment service providers to integrate and offer a range of payment initiation services in addition to traditional card payments. The company was founded in 2024 and focuses primarily on the European and UK markets. The funds raised by Kashimi will enable the startup to expand its infrastructure and enter the US market. Kashimi’s co-founder and CEO is Benas Pavlauskas.

Coinvest Capital, an early stage venture capital fund established in 2018 by the national development bank ILTE, invests EU and Republic of Lithuania public funds, in promising Lithuanian startups. The managing director of Coinvest Capital is Viktorija Trimbel.

Impellent Ventures is a venture capital firm founded in 2018 and based in Rochester, New York, USA. The company specializes in providing financing to early-stage companies, primarily in the technology sector.

Plug and Play Tech Center is an American venture capital firm founded in 2006. The fund's goal is to promote technological development by connecting startups, corporations and investors around the world.