European fintech funding opened the year with a notable signal: PayPal Ventures leading a €12 million Series A round in Klearly, a Dutch payments startup focused on hospitality merchants. Restaurants, bars, and clubs rarely sit at the center of fintech narratives, yet they operate in some of the most demanding payment environments. High volume, peak-hour pressure, and thin margins leave little room for friction.

Klearly’s rise shows how vertical focus can turn an overlooked segment into a compelling growth story.

Building Around How Hospitality Actually Works

Klearly does not try to replace the systems restaurants already use. Instead, it integrates with existing point-of-sale platforms and allows payments to run on everyday Android and iOS devices. For hospitality operators, that matters. Swapping out terminals or retraining staff mid-season is risky and expensive.

By fitting into existing workflows, Klearly reduces adoption friction. Staff can keep working the way they are used to. Guests get faster checkouts. Operators avoid hardware lock-in. It is a product philosophy grounded in operational reality rather than feature lists.

This approach has driven strong early traction. Since launching in 2022, Klearly has been adopted by more than 4,000 merchants in the Netherlands. Those businesses process close to €1 billion in annualised payment volume on the platform. For a young company, that combination of adoption and throughput is powerful proof of product-market fit.

Why PayPal’s Involvement Matters

PayPal Ventures joining as lead investor is more than a capital injection. Strategic investors in payments bring credibility, network access, and deep domain insight. They also tend to be selective. Their interest suggests that Klearly’s model aligns with broader shifts in how merchant payments evolve.

The round also included Italian Founders Fund, Global PayTech Ventures, Antler Elevate, and Shapers. The mix reflects both regional ambition and sector expertise. This is not generalist capital chasing growth at any cost. It is targeted backing for a very specific problem.

From Dutch Traction to European Scale

The new funding will fuel expansion into Italy and Belgium. Both markets are hospitality-heavy and still fragmented in terms of payments infrastructure. Klearly plans to build local teams and deepen partnerships with POS providers in each country.

This phase is where many startups stumble. What works in one country often breaks in another. Regulation, consumer habits, and partner dynamics shift quickly. Capital helps, but execution discipline matters more. Klearly’s integration-first strategy may travel well, but it will still need local nuance.

Key takeaways for fintech startups

• Early traction like thousands of merchants and meaningful payment volume builds investor confidence.
  
  
• Vertical focus can unlock markets that horizontal platforms struggle to serve well.
  
  
• Integrating into existing workflows reduces friction and speeds up adoption.
  
  
• Strategic investors can add more than money when your product sits in their core domain.
  
  
• Geographic expansion is an operational challenge, not just a marketing one.

If your fintech is preparing for scale or fundraising, stories like Klearly’s are worth studying. At Your Fintech Story, we help founders turn traction into a clear narrative and a credible growth plan. Get in touch if you want support shaping yours.