pagans, the fintech specialized in consumer finance for electronic commerce and that operates in Spain through the brand Pay+Late, has announced the closure of one of 75 million dollars (more than 65 million euros)series B in debt and capital (Series B is carried out when companies have already consolidated their business model and focus on their expansion).
An injection of key resources for the international expansion of Pagantis
Prime Ventures, SPF Investment Management (formerly Credit Suisse Asset Management) and Rinkelberg Capital Group participated in the round. The new capital will be used to develop the electronic commerce consumer credit service in Italy, and Portugal.
Pagantis, established in Spain, has recently received regulatory approval to operate in Italy and has opened a branch in Milan. To consolidate this internationalization strategy, the company is expanding its team, which is currently made up of more than 100 professionals of various nationalities.
Rolf Cederstrom, CEO and Founder of Pagantis, explains that “We have developed a leading business in Spain, where we were pioneers in online consumer credit, and following strong demand from our international merchants and partners, we are now expanding the service offering to other European countries.”
Likewise, the CEO highlights that in all markets there are similar solutions that offer consumer financing, but there is no “a single solution that operates in more than one market, ensuring the same user experience for businesses in all the countries in which it is present”, That is why they are clearly committed to internationalization.
How Pagantis operates
Pagantis offers omnichannel financing (online and offline) and its differential value in the market is the instant approval and 100% online, which is carried out in real time using an innovative scoring algorithm. This algorithm analyzes fraud and credit riskrelying on big data and machine learning techniques, with the aim of ensuring the greatest possible acceptance, always controlling the risk of non-performing loans for each loan.
The Pagantis e-commerce sales platform, recognized in the Spanish market as Pay+Late, It allows consumers to pay for goods and services in monthly installments through a fully automated process and provides e-commerce with a simple onboarding process to offer consumer credit along with their purchases.
A track record of 8 years and 500 million euros in loans
Pagantis is a fintech founded in 2011, specialized in providing consumer financing, in an automated way and without intermediaries, in electronic commerce transactions in Europe. Since then, the company has generated more than €500 million in online consumer loans through its platform, which has been developed by leveraging the company’s expertise in data science, technology, compliance and finance.
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