PastPay, a provider of B2B payment solutions, has announced a €12 million Series A funding round led by Platina Capital in collaboration with several leading financial institutions and high-profile private investors. PastPay’s mission is to provide innovative B2B payment solutions, enabling flexible payment terms for business transactions.

The funding round, led by private equity specialist Platina Capital aims to accelerate the B2B payment provider’s business development. Currently, PastPay operates in Central and Eastern Europe (CEE), including Italy, Germany, Poland, Czechia, Slovakia, Romania, and Hungary, with expansion plans to other EU markets. Strengthening the impressive raise, PastPay’s funding round also includes participation from several leading financial institutions, including MBH Bank, Advance Global Capital, Quantic Financial Solutions, STRT and BNL Start Partners, as well as a number of high-profile private investors, such as Jared Schrieber and Mark Ransford.

PastPay is transforming B2B commerce by offering innovative financing solutions that empower merchants and their business customers to manage payments on their own terms. The platform facilitates seamless transactions both online and offline, providing flexible payment terms that enhance liquidity for companies across the European Union. Specifically, PastPay enables businesses to extend payment terms for purchases from over 170 merchants by 15 to 90 days. With a focus on simplicity, efficiency, and innovation, PastPay aims to set new standards in the B2B payments industry, driving economic growth and enabling small-to-medium enterprises (SMEs) to thrive.

Moving forward, PastPay will utilise the new injection of funds to expand its current offerings, making B2B transactions and financing as seamless as possible for users across Europe. This will involve a two-stage strategy focused on investment in product development and the expansion of its digital services and infrastructure, ensuring that merchants operating in both digital and traditional formats are fully supported.

Benjamin Berényi, Co-Founder and CEO at PastPay, commented on the announcement: “B2B commerce is becoming an increasingly digitised market, and the demand for flexible payment options is matching the need for innovative solutions. This funding shows that investors are keen to leverage this demand and lead in a market that is still in its early stages but with the promise of robust growth and profitability. For this to happen we need to invest further in the product side and with the growing threat of AI-enhanced cybercrime, strengthen our risk infrastructure.”

Bálint Réti, Co-Founder and COO at PastPay, added: “In terms of expansion, historically we have focused on the CEE region, 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. The past years can be considered a less supportive environment for fintech start-ups, this raise showcases the quality and resilience of our product and team. Our partnership with these new investors aligns with our vision of making financing accessible to as many SMEs as possible. They bring significant expertise in finance and technology, as well as a robust network we can leverage. With the current funding round we have the ability to finance over €300 million worth of invoices per year.”