Pagantis, the European fintech for e-commerce consumer finance, announced that it closed a Series B funding round of $75 million in debt and equity.
Prime Ventures, SPF Investment Management (previously Credit Suisse Asset Management) and Rinkelberg Capital Group participated in the round. The new capital will be used to develop the e-commerce consumer credit service in Italy, France and Portugal.
The Spanish-based fintech recently received regulatory approval to operate in Italy and opened a branch in Milan. It will continue to expand its European presence and add credit cards to its platform.
Paga+Tarde, the Pagantis point of sale consumer finance platform for ecommerce, allows consumers to pay for goods and services in monthly installments with a fully automated, paperless process and provides e-commerce merchants with a simple onboarding process to offer consumer credit in conjunction with purchases.
Rolf Cederström, CEO and Founder:
“We have developed a leading offering in Spain, where we pioneered online consumer credit, and following strong demand from our international merchants and partners, we are now expanding the service offering to other European countries.”
Pagantis is an established fintech, founded in 2011, and focused on providing automated, friction-free consumer finance for e-commerce transactions in Europe. The company has originated over €500 million in online consumer loans on its proprietary platform, which has been developed leveraging the company’s expertise in data science, technology, regulatory compliance, and finance. The group operates a regulated entity, Pagantis SA EP (Bank of Spain Code 6857), a payment institute supervised by the Bank of Spain.