phyre closes a EUR 1.55 mln funding round

Monday 30 March 2020 14:06 CET | News

Phyre, a Bulgaria-based fintech, has secured EUR 1.55 million in a funding round led by VC fund, New Vision 3 Fund and the Bulgarian American Credit Bank

The capital raised is expected to be invested into the development and deployment of its banking and payment e-wallet platform. It will also enable the fintech to provide a business model combining SaaS, PaaS and BaaS.

Phyre aims to enable enterprises to launch their digital wallet and offer financial services. It allows its users to open a payment account with personal IBAN, order a physical or virtual Mastercard and facilitate contactless payments with their phone anywhere in the world. It also digitalises all loyalty cards and offers a suite of merchant services to its retail partners.

Bulgarian telcos A1 and Vivacom are currently using phyre’s services.

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Keywords: Bulgaria, fintech, phyre, e-wallet, VC fund, New Vision 3 Fund, Bulgarian American Credit Bank, banking, payments , SaaS, PaaS, BaaS, MasterCard, contactless, A1, Vivacom
Categories: Banking & Fintech
Countries: Bulgaria
This article is part of category

Banking & Fintech