Surfboard Payments Company Profile

Background

Overview

Surfboard Payments is a Swedish-based payment technology company founded in 2019, specializing in cloud-based payment solutions for both in-store and online transactions. The company offers a unified platform that enables software companies to integrate payment processing seamlessly across various channels, including physical points of sale, online platforms, and mobile applications. Operating under a Payment Institution license from the Swedish Financial Supervisory Authority, Surfboard Payments is committed to delivering secure and efficient payment solutions tailored to the needs of merchants and consumers alike.

Mission and Vision

Surfboard Payments aims to revolutionize the payment landscape by providing innovative, flexible, and scalable payment solutions that empower businesses to accept payments effortlessly across multiple channels. The company's vision is to become a leading provider of unified commerce solutions, enabling businesses to offer seamless and secure payment experiences to their customers.

Primary Area of Focus

The company's primary focus is on developing and delivering integrated payment solutions that cater to a wide range of industries, including retail, hospitality, healthcare, and personal services. By offering a comprehensive suite of payment products and services, Surfboard Payments addresses the diverse needs of merchants, from small businesses to large enterprises.

Industry Significance

In the rapidly evolving fintech sector, Surfboard Payments stands out by providing a versatile and developer-friendly platform that simplifies payment integration. Its commitment to security, compliance, and innovation positions the company as a significant player in the payment technology industry, contributing to the advancement of seamless and secure payment experiences worldwide.

Key Strategic Focus

Core Objectives

• Unified Commerce Integration: To offer a single, cohesive platform that supports various payment acceptance methods, including in-store, online, and mobile transactions.

• Developer-Centric Solutions: To provide an API-first, cloud-native platform that simplifies payment integration for developers, reducing time-to-market and enhancing scalability.

• Security and Compliance: To adhere to the highest security standards, ensuring that all payment processes meet stringent requirements, including PCI DSS and PCI PIN certifications.

Specific Areas of Specialization

• SoftPOS Solutions: Transforming smartphones and tablets into secure payment terminals, enabling businesses to accept contactless payments without additional hardware.

• Unattended Payment Acceptance: Providing payment solutions for self-service environments such as vending machines, kiosks, and EV chargers.

• Value-Added Services: Offering integrated features like loyalty programs, digital receipts, and real-time reporting tools to enhance the merchant and customer experience.

Key Technologies Utilized

• Cloud-Native Architecture: Ensuring scalability, reliability, and rapid deployment of payment solutions across various platforms.

• API-First Design: Facilitating seamless integration with existing systems and third-party applications.

• AI-Enhanced Developer Tools: Utilizing artificial intelligence to optimize developer documentation and support, accelerating the integration process.

Primary Markets Targeted

Surfboard Payments primarily targets the European market, with a strong presence in Sweden, Denmark, Finland, Norway, and the United Kingdom. The company's solutions are designed to cater to a diverse range of merchants, from small and medium-sized businesses to large enterprises, across various industries such as retail, hospitality, healthcare, and personal services.

Financials and Funding

Funding History

As of August 2024, Surfboard Payments secured SEK 30 million in a new funding round, which was oversubscribed. This capital injection is intended to accelerate the company's growth trajectory and expand its product offerings.

Total Funds Raised

The company has raised a total of SEK 30 million in funding to date.

Notable Investors

Specific details about individual investors are not publicly disclosed.

Intended Utilization of Capital

The funds are allocated towards scaling operations, enhancing product development, and expanding market reach to strengthen Surfboard Payments' position in the competitive payment technology landscape.

Pipeline Development

Key Pipeline Candidates

Surfboard Payments is actively developing several innovative products and features, including:

• Tap to Pay on iPhone: Enabling merchants to accept contactless payments using only an iPhone and the CheckoutX app, eliminating the need for additional hardware.

• SurfXpress: A SoftPOS solution that allows consumers to make contactless payments directly on the screen of NFC-enabled Android devices.

• SurfTouch: A customizable payment terminal that integrates with various POS applications, offering flexibility and scalability for businesses.

Stages of Development

These products are in various stages of development, with some already available in select markets and others slated for future release.

Target Conditions

The developments aim to address the needs of merchants seeking flexible, secure, and scalable payment solutions across different sales channels.

Anticipated Milestones

The company plans to expand the availability of these products across additional European markets and enhance their functionalities based on user feedback and market demands.

Technological Platform and Innovation

Proprietary Technologies

• CheckoutX: A SoftPOS solution that transforms NFC-enabled Android devices into secure payment terminals, enabling businesses to accept contactless payments without additional hardware.

• SurfXpress: A self-checkout solution that allows consumers to make contactless payments directly on the screen of NFC-enabled Android devices, streamlining the payment process.

Significant Scientific Methods

• AI-Optimized Developer Documentation: Utilizing artificial intelligence to enhance developer documentation, making it more accessible and reducing integration time.

Leadership Team

• Christopher Lindfeldt: CEO and Founder. With extensive experience in the payment and security industry, Lindfeldt has been instrumental in establishing Surfboard Payments as a leading provider of cloud-based payment solutions.

• Johannes Åkermark: Chief Financial Officer. Åkermark brings a wealth of experience from investment banking and private equity, overseeing the company's financial strategy and operations.

• Thomas Nilsson: Chief Operating Officer. Nilsson has a background in payment solutions and is responsible for the company's operational excellence and strategic initiatives.

Leadership Changes

In September 2025, Johannes Åkermark was appointed as the Chief Financial Officer, succeeding the previous CFO.

Competitor Profile

Market Insights and Dynamics

The European payment technology market is characterized by rapid innovation and a growing demand for seamless, secure, and flexible payment solutions. Key trends include the adoption of contactless payments, the rise of mobile payment solutions, and the integration of value-added services such as loyalty programs and real-time reporting.

Competitor Analysis

• Adyen: A global payment company offering a unified commerce platform that supports various payment methods across online, mobile, and in-store channels.

• Klarna: A Swedish payment service provider known for its "Buy Now, Pay Later" solutions, offering flexible payment options to consumers.

• Stripe: A US-based payment processor that provides a comprehensive suite of payment solutions for online and in-person transactions.

Strategic Collaborations and Partnerships

• Google Cloud: Surfboard Payments collaborates with Google Cloud to leverage services like Firebase for product prototyping and Google Kubernetes Engine for scalable application deployment.

• Cardstream Group: In July 2024, Surfboard Payments partnered with Cardstream Group to deliver innovative white-label payment solutions, enhancing its product offerings.

Operational Insights

Surfboard Payments differentiates itself through its API-first, cloud-native platform, enabling seamless integration and scalability. The company's focus on security, compliance, and developer-friendly solutions positions it as a competitive player in the European payment technology market.

Strategic Opportunities and Future Directions

Strategic Roadmap

• Expansion into New Markets: Surfboard Payments plans to extend its presence beyond Europe, targeting additional international markets to broaden its customer base.

• Product Diversification: The company aims to introduce new payment solutions and value-added services to meet the evolving needs of merchants and consumers.

• Technological Innovation: Continued investment in AI and machine learning technologies to enhance product functionalities and improve