Czech fintech startup Flowpay has secured EUR 30 million from London-based investment manager Fasanara Capital. The debt financing is intended to provide working capital financing for small and medium-sized enterprises (SMEs). With this, Flowpay moves closer to its goal of becoming a major player in the world of embedded finance, aiming to further establish itself across digital platforms.
“This new line of credit from Fasanara Capital allows us to become one of the leading embedded lending solutions in Europe. We can grow beyond the Czech Republic, Slovakia, and the Netherlands at an accelerated pace. We have the ambition to become the next Czech unicorn,” says William Jalloul, CEO and founder of Flowpay.
“Using the latest technology to make it easier and faster for SMEs to apply for working capital, Flowpay has developed what we believe can be a market leading embedded lending proposition. We believe that the future of financial markets depends on the adoption of modern technology to effectively provide access to funding to smaller players who are increasingly being left behind by banks. The partnership with Flowpay aligns directly with Fasanara’s mission to bridge the multi-billion-euro* funding gap faced by European SMEs – especially those excluded by outdated scoring models and lacking the capital to grow optimally,“ says Matt Kus, Partner and Head of Origination at Fasanara Capital.
Flowpay was originally backed by Techstars – a leading pre-seed investor globally, alongside rising Czech VCs like Soulmates Ventures and DEPO Ventures, and key angel investors such as Mark Ransford, Martin Herrmann, Kartik Varma, Allard Luchsinger, and others.
In addition to facilitating access to capital, Flowpay also offers businesses fast application evaluation and a tailored approach. The use of artificial intelligence and data models enables efficient processing of applications without the need for complex administration, reducing the time between application and funding.
Read the orginal article: https://ffnews.com/newsarticle/funding/flowpay-raises-eur-30-million-from-fasanara-capital-to-lend-to-small-and-medium-sized-companies/
