Budapest-based fintech company PastPay has raised €12 million in a Series A funding round led by Platina Capital, marking the largest B2B Buy Now, Pay Later (BNPL) raise in Central and Eastern Europe (CEE).
Other participants in the round include MBH Bank, Advance Global Capital, Quantic Financial Solutions, STRT, BNL Start Partners, and notable private investors such as Jared Schrieber and Mark Ransford.
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Fueling Expansion Across Europe
PastPay plans to use the funds to expand its flexible B2B payment solutions across Europe, enhance its product development, and invest in digital infrastructure to support both online and offline merchants. The company’s BNPL service allows businesses to extend payment terms by 15 to 90 days, providing over €33 million in financing to support SMEs across the EU.
Ambitions for Pan-European Growth
With operations in Italy, Germany, Poland, Czechia, Slovakia, Romania, and Hungary, PastPay is looking to scale into other EU markets. Co-founder and COO Bálint Réti expressed the company’s vision of becoming a pan-European payment and financing partner, targeting over €300 million worth of invoice financing annually.
