Confirmed! High-Risk Payment Processor OpenUp Seems Related To iPayTotal Group!

Whistleblower request for payment processor openup on FinTelegram
Spread financial intelligence

Whistleblower Credits: We would like to thank our whistleblowers for their reports and insights, which help us expose scammers and their payment processors. Together we can make a difference in cyberspace. Together we are an invincible force.

OpenUp is a high-risk payment processor operated by Openup Consulting Services AsP, a company registered in Denmark and owned by Chestnut Investments Lda in Portugal. The only director of Openup is Svetlana Ivanova. On LinkedIn, we found 12 people connected to the OpenUp across different jurisdictions. We published a whistleblower request a few weeks ago, and a former employee confirmed that OpenUp is related to the Indian-British iPayTotal Group and its co-founder Ruchi Rathor. He offered additional intel for money.

Key Data

Trading styleOpenUp
Business activityHigh-risk payment processor
Company formation
Social mediaLinkedIn
Legal entitiesOpenup Consulting Services AsP
Chestnut Investments Lda (parent)
Lexco Portugal, LDA
JurisdictionDenmark, Portugal
Related individualsSvetlana Ivanova
Miguel Bruno Nóbrega Gouveia
Antonio Manuel M. Rodrigues
Samuel O (LinkedIn) account deleted
Ruchi Rathor (iPayTotal co-founder)
Contact data+44 888 718 66151
+44 (800) 776-5193
PayCom42 profileOpenUp on PayRate42

Short Narrative

We know that iPayTotal works with fake LinkedIn and social media accounts, so we must be careful accordingly. We haven’t been able to identify the only OpenUp Direkotrin Svetlana Ivanova on LinkedIn. We cannot confirm the authenticity of the other profiles associated with OpenUp.

Nigerian payment expert Samuel O (LinkedIn) was responsible for Kryptova, a company we could assign to iPayTotal, until March 2022. After we published our whistleblower request, Samuel deleted his LinkedIn account.

OpenUp bills itself as “the future of financial services.” According to a presentation and its website, the payment processor offers

  • Merchant accounts with dedicated IBAN, SWIFT access, and card processing services.
  • Company formation services, including bank accounts.
  • Investment services and funding for innovative startups in the payment sector with financing from $5,000 to $15 million.

The phone numbers provided on the website suggest that the main activities are carried out in the United Kingdom.

On Trustpilot, OpenUp holds a 4.8-star rating based on 50 reviews with a corresponding “Excellent” trust level. Some of the reviews are fishy, though. First-time reviewers write most 5-star reviews. For example, a guy called Hector Gross wrote a 5-star review for OpenUp. Previously, however, this Hector also wrote 5-star reviews for the Buffets Finance and Claim Justice scams (screenshot left). Therefore, we assume that the Trustpilot rating is fake.

However, cyberfinance rating agency PayRate 42 has downgraded OpenUp on its “Red Compliance” list.

Share Information

Please let us know if you have any information about OpenUp, its operators, and partners. In particular, we would be interested to know if OpenUp is affiliated with iPayTotal Group.

Leave a Reply

Your email address will not be published. Required fields are marked *