B2B buy now, pay later platform PastPay has secured €12 million in a Series A funding round led by Platina Capital, with participation from several financial institutions.
PastPay allows businesses to extend payment terms for purchases from over 170 merchants by 15 to 90 days. The company currently operates in Central and Eastern Europe (CEE), including Italy, Germany, Poland, Czechia, Slovakia, Romania, and Hungary, with plans to expand into other EU markets.
Supporting the funding round are banks such as MBH Bank, Advance Global Capital, Quantic Financial Solutions, STRT, and BNL Start Partners, along with notable private investors including Jared Schrieber and Mark Ransford. The raised capital will be utilized to invest in product development and to enhance digital services and infrastructure for both online and offline transactions.
Bálint Réti, co-founder and COO of PastPay, stated: “Historically, we have focused on the CEE region for expansion. However, our goal is to become a pan-European provider and a reliable payment and financing partner for all transactions within the European Union and EEA. With this current funding round, we have the capacity to finance over €300 million worth of invoices per year.”