Klarpay Announced Profitability For The First Year Of Operation

High-risk payment processor Payabl
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Klarpay is a FINMA-regulated financial institution with offices in Cyprus. In Q1 2022, the Payabl Group led a seed finance round of CHF 3 million to provide the funds for the company’s development. On 14 Feb 2023, Klarpay announced that it had achieved profitability in its first operational year. The announcement says Klarpay closed 2022 with more than 120 corporate clients and reached monthly profitability in August 2022. However, no details have been provided!

We are thrilled to have reached this important milestone,” says of Klarpay. “Our focus on a sustainable business model sets us apart from many of our peers in the fintech industry who struggle to achieve profitability, especially so early in a company’s lifecycle. We are excited to continue building on this success in the coming year.”

Martynas Bieliauskas, Klarpay CEO and Co-founder

Key Data

Trading nameKlarpay
Business activityPayment processor
Merchant service provider
Legal entityKlarpay AG
Social mediaLinkedIn, Twitter, Medium
Related individualsMihkel Vitsur, Chairman (LinkedIn)
Beatrice Kern, Vice Chairwoman (LinkedIn)
Alena Nicolai, Board Member (LinkedIn)
Marianna Markidou (LinkedIn)
Persia Papafylaktou (LinkedIn)
Martynas Bieliauskas, CEO (LinkedIn)
Jeff-Richard Angehrn, CFO (LinkedIn)
Marc Evans, COO (LinkedIn)
Christos Alatzidis, CTO (LinkedIn)
Ugne Buraciene, Advisor (LinkedIn)
InvestorPayabl.cy Limited (prev. PowerCash21 Limited), Cyprus
PayRate42 follow the Klarpay profile on PayRate42

Short Narrative

Klarpay looks like a sort of spin-off of BDSwiss, the investment firm of Jan Eric Malkus. The company’s Head of Back Office, Marianna Markidou, like most of the other executives, is a former BDSwiss manager and is based in Cyprus, according to LinkedIn. As is COO Marc Evans, the former CFO of BDSwiss, and Persia Papafylaktou, former Marketing Coordinator at BDSwiss. So it’s fair to assume that a significant portion of Klarpay‘s activities, like those of Payabl, are controlled via their Cyprus offices.

Klarpay AG comes across as a sort of spin-off of BDSwiss, the investment firm of Jan Eric Malkus. Some of its former executives and founders are key people in the bank:

  • Mihkel Vitsur, co-founder and former BDSwiss Chairman, co-founded Klarpay and is its Chairman;
  • Martynas Bieliauskas, former director and co-founder of BDSwiss Group, co-founded Klarpay and is its CEO;
  • Christos Alatzidis, the former BDSwiss CIO & CTO, co-founded Klarpay and is its CTO;
  • The former BDSwiss Chief Financial Officer Marc Evans joined Klarpay in Feb 2022 as Chief Financial Officer;
  • The Head of Back Office, Marianna Markidou, joined Klarpay in Jan 2022;
  • Persia Papafylaktou, former Marketing Manager at BDSwiss, joined Klarpay in March 2022.

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