PastPay raises €12m in Series A to accelerate B2B payments across Europe

By Gloria Mathias

PastPay, a provider of B2B payment solutions, has announced a €12 million Series A funding round led by Platina Capital in collaboration with several financial institutions and high-profile private investors.

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.

PastPay is transforming B2B commerce by offering innovative financing solutions that empower merchants and their business customers to manage payments on their terms. The platform facilitates seamless transactions both online and offline, providing flexible payment terms that enhance liquidity for companies across the European Union.

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.

Benjamin Berényi, Co-Founder and CEO at PastPay, said, “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 strengthen our risk infrastructure, given the growing threat of AI-enhanced cybercrime.”

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.”

With this sizable raise, PastPay will further accelerate growth and expand its B2B payment solutions, including B2B Buy Now and Pay Later across Europe as it works to reshape the future of B2B payments.