OptioPay: Superior payment in kind instead of direct payout

In the well-interconnected Berlin startup ecosystem this is quite the feat: Growing on the quietly instead of with much ado, in order to keep the competition out as long as possible. OptioPay GmbH is the company that did just that. Founded in Berlin in 2014, the startup already has 47 employees and recently announced a round of financing of seven million euros.

OptioPay is a payout platform: When, for example, insurance companies, banks or energy providers pay out amounts to their customers or to their own employees, these enterprises can opt to offer premium products, services or vouchers instead of the financial payment. Typical examples are wages or additional benefits for employees, but also claim settlements in the case of insurance companies. If, for instance, a TV set is defect due to a lightning strike, the policy holder can directly opt for a new device from one of the OptioPay partners instead of the insurance sum. This payment in kind on the other hand is more valuable than a direct payout by the insurance company. “With us, the paying companies increase their turnover as well as their customer and employee satisfaction,” OptioPay says. 

The startup around Marcus Börner, founder of the second-hand online shop Rebuy, and Oliver Oster already now provides a range of more than 100 different brands of partner suppliers offering payment in kind vouchers to end customers - including Adidas, Zalando or Amazon. These voucher suppliers hope for access to solvent potential new customers. 

The lead investor of the round of financing is Berliner Auden AG. CEO Christofer Radic explained: “We see that customers and enterprises are enthusiastic about the OptioPay model.” KfW Banking Group and Commerzbank’s main incubator also support the Berlin-based startup. Incidentally, OptioPay said about the company headquarters: “Berlin as Fintech capital is the ideal location to achieve our targets.”