Yaspa

History & Founding

Yaspa began life in 2017 as Citizen, a company founded by tech executives with the vision of linking identity verification with payment initiation. Over its early years the product evolved through several pivots, but the core focus on the “sweet spot” between payment and identity data remained constant. In 2019 Citizen became one of the first open banking providers to be granted FCA regulation as a payments institution. In 2022 the company won the Open Banking Expo Award for Best Open Banking Product. A year later, in 2023, it rebranded to Yaspa to reflect a broader European and US ambition. In 2024 Yaspa received an Innovate UK grant for a Safer Gambling platform, and in 2025 it won Best Payment Facility at The Card & Payments Awards.

Technology & Products

Yaspa’s platform is built on open banking APIs (PSD2) and AI-driven risk intelligence. Its flagship Intelligent Payments product delivers real-time deposit approval decisions with guaranteed outcomes, eliminating chargebacks and reducing fraud. Guaranteed Payments uses live balance checks and Same-Day ACH (in the US) to ensure deposits are fully guaranteed. Instant Payouts enables operators to send refunds, withdrawals, and outbound payments that settle in real time. Account Verification performs instant ownership checks for fast, frictionless KYC. Virtual Accounts (vIBANs) provide on-demand corporate holding accounts for precise funds management and reconciliation. All products are designed to work together in a single, low-friction flow that blends biometric identity checks with instant settlement.

Market Focus & Regulation

Yaspa primarily serves iGaming operators, sportsbooks, and eCommerce merchants, but also works with utilities, trading platforms, and charities. It is regulated by the UK FCA (as Yaspa Limited) and holds the necessary authorisations to process payments across the UK and Europe. In 2025 the company incorporated a US entity in Atlanta, Georgia, and is actively building partnerships with American gambling operators. The recent $12 million investment from Discerning Capital specifically targets the US open banking market, which is projected to grow from $7.08 billion (2023) to $35.79 billion by 2031.

Leadership & Team

Yaspa is led by co-founder and CEO James Neville, a seasoned payments executive who previously served as CTO at Worldpay and Just Eat. The senior team includes Chris Lowe (CFO), Kate Marsden (CMO), Dr Toby Sucharov (CTO), Chris Watkins (Chief People Officer), and Justin Fraser (Chief Revenue Officer). The company reports a 50:50 gender split at senior leadership level – unusual for a fintech. While headcount is not publicly disclosed, the team spans engineering, compliance, commercial, and product functions across three offices.

Recent Developments

- July 2025: $12 million funding round led by Discerning Capital with participation from Metavallon and TechStars Ventures. David Williams of Discerning Capital joined the board. - 2025: Partnership with PayAdmit to bring Pay by Bank to the payment orchestrator’s 350+ global merchants. - 2024: Awarded Innovate UK grant for Safer Gambling platform development. - 2023: Rebrand from Citizen to Yaspa; expansion into European markets beyond the UK. - 2019: Regulated by the FCA as a payments institution.