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E-commerce opens new financing channels

E-commerce opens new financing channels Pagantis was founded in 2011 and specializes in providing consumer finance, automatically and without intermediaries, in e-commerce transactions in Europe.

The European panorama

Spain has 28 million users who buy through e-commerce with an average ticket of 545 euros. In France there were 49 million users and a ticket average of 915 euros and in Italy it reached 38 million users and an average ticket of 368 euros. Among the most important data to take into account is that the amount financed has increased from 645 euros to 1,256 euros in 2016 and 2017, respectively. The technology leads the ranking of the most financed sectors with 45%, followed very closely by smartphones with 41% and in the third place is the tourism sector with 30% of the total. «The financing in the online purchase has as a challenge to offer a solution that works with quick, easy and quick procedures. The Internet must offer an immediate solution, “explains Rolf Cederstrom, CEO and co-founder of Pagantis.

About the firm

This fintech was founded in 2011 and is specialized in providing consumer finance, automatically and without intermediaries, in electronic commerce transactions in Europe. The firm offers financing for instant consumption and 100% through its platform Pay + Afternoon. The group operates as a regulated entity, Pagantis SA EP, supervised by the Bank of Spain.

“The Spanish market is not yet mature in this sector”

“The Spanish market is not yet mature in this sector. We have been pioneers and there is potential growth. In England, for example, 20% of retail is sold online while in Spain it is 3%, “says Cederstrom, who has more than 20 years of experience in the technological and financial sector. They have agreements with electronic stores of more than 3,000 stores where they appear as a means of payment, like a credit card or Paypal. “In 2-3 minutes we close the transaction, in real time, and that is what the market requires. That is why we have invested a lot in the technological investment “, says the head of Pagantis. It is technology that allows them to analyze the credit risk in a matter of minutes and decide whether or not to grant it.

So far they have lent in Spain 500 million euros for purchases of very diverse nature

“Such as appliances, travel, furniture and clothing, among others” reveals the fintech. They recently closed a round of financing of 65 million euros supported by institutional funds. The objective of this company is to move the platform to serve in several countries. “We are opening a market in France, Italy and Portugal where we will operate in the coming months. This is a big challenge for the company because it is a highly regulated sector, “underlines the co-founder of Pagantis. This jump to other markets will allow them to have customers “who buy in other countries, which is an advantage”, he says.

Published inE-commerce
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