Paynetics closes a EUR 2.5 mln funding round

Friday 27 March 2020 14:22 CET | News

The Bulgarian fintech company Paynetics has raised funding to expand its European business. 

Based on its infrastructure in acquiring, issuing, e-wallet and account management, Paynetics offers a full stack end-to-end payment solutions. It has also developed and launched a number of value-added services, integrated into the e-wallet, such as a loyalty program and automated marketing platform.

Within its business model, the provision of direct payment services is combined with payment and banking-as-a-service, as well a modular integration of value-added products and a wide set of merchant services. 

The round was lead by the New Vision 3, a VC fund backed by Fund Manager of Financial Instruments in Bulgaria and private investors, and the Bulgarian American Credit Bank, a bank focused on sustainability and digitalisation. 

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Keywords: Paynetics, funding, fintech, payments , Bulgaria
Categories: Payments & Commerce
Countries: Bulgaria
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