After eight years of activity, fintech has generated more than 500 million euros in online consumer loans. Currently, it has just closed one of the largest financing rounds in the sector.
Pagantis, a reference fintech
Pagantis has consolidated itself as one of the reference fintech for online consumer loans. The current ecommerce is a sector on the rise as shown by the figures of the main annual reports on the electronic commerce.
After generating more than 500 million euros in loans for this area, Pagantis has just announced the closing of one of the most important funding rounds for fintech environment, estimated at 75 million dollars.
The new capital, coming from Prime Ventures, SPF Investment Management (formerly Credit Suisse Asset Management) and Rinkelberg Capital Group, will be used to develop the e-commerce consumer credit service in Italy, France and Portugal.
The expansion of Pagantis
Rolf Cederström, CEO and Founder of Pagantis, explains that “we have developed a leading business in Spain, where we were pioneers in online consumer credit, and after the strong demand from our international merchants and partners, we are now expanding the range of services to other European countries”.
The entity has just received regulatory approval to operate in Italy, where it has already opened a branch (Milan). So growth will also affect the workforce, currently composed of more than 100 people of different nationalities.
“There is no single solution that operates in more than one market, ensuring the same user experience in all the countries where it is present” Rolf Cederström, CEO and Founder of Pagantis
Now, how does Pagantis operate and why is your case a success? Its offer includes omnichannel financing (online and offline) and its differential value in the market is instant approval and 100% online, which is carried out in real time through an innovative scoring algorithm.
This algorithm analyzes the risk of fraud and credit, relying on big data and machine learning techniques, in order to ensure the highest possible acceptance, always controlling the risk of delinquency of each financing.
Its ecommerce sales platform, recognized in the Spanish market as Paga + Tarde, allows consumers to pay for goods and services in monthly installments through a fully automated process and provides ecommerce with a simple integration process to offer credit to consumer along with their purchases.