Budapest-based payment processing platform PastPay, which offers instant payments to businesses and flexible Buy Now, Pay Later (BNPL) options to their B2B customers, has raised €12 million in a funding round to accelerate its European expansion. The round, led by Platina Capital, also saw participation from MBH Fintechlab, Advance Global Capital Ltd, Quantic Financial, STRT Holding Nyrt., and BNL Start Partners Kft.
- Founded in 2019 by Benjamin Berényi and Bálint Réti, PastPay provides a payment processing platform that allows businesses to receive instant income while offering their customers flexible Buy Now, Pay Later (BNPL) options with payment terms ranging from 15 to 90 days.
- The platform integrates easily into existing sales processes and manages invoice financing automatically, supporting both online and offline sales through a single central portal.
- With offices in Poland, Hungary, and Germany, the startup comprises a team of 9 and has partnered with notable firms to reshape the future of B2B payments, including Advance Global Capital, 364 Today's Bank, Crescap, and MFB.
Details of the deal
- The fresh funding was led by Budapest-based Platina Capital, a venture capital firm that manages six funds and supports digital startups at early, growth, and mature stages.
- The round also saw participation from Budapest-based MBH Fintechlab, London-based investment management firm Advance Global Capital Ltd , Quantic Financial, STRT Holding Nyrt., Miskolc-based BNL Start Partners Kft., and several business angels, including Jared Schrieber and Mark Ransford.
"We’re excited to announce that PastPay has closed a €12 million funding round, the largest investment in the B2B BNPL market across the CEE region. A big thank you to our investors and everyone who has supported us on this journey," PastPay's team, commented on LinkedIn.
- With the capital raised, PastPay plans to expand across the EU, enhance its digital infrastructure, and further develop innovative financing solutions for flexible B2B transactions.
