Prague-based FinTech startup Flowpay has secured €30 million from funding supervisor Fasanara Capital to supply working capital financing for SMEs and develop into a notable participant on the earth of embedded finance.
Flowpay was initially backed by Techstars, a number one pre-Seed investor, alongside rising Czech VCs like Soulmates Ventures and DEPO Ventures, and key angel traders reminiscent of Mark Ransford, Martin Herrmann, Kartik Varma, Allard Luchsinger, and others.
“This new line of credit score from Fasanara Capital permits us to develop into one of many main embedded lending options in Europe. We will develop past the Czech Republic, Slovakia, and the Netherlands at an accelerated tempo. We have now the ambition to develop into the subsequent Czech unicorn,” says William Jalloul, CEO and Founding father of Flowpay.
The corporate was based by serial entrepreneur, investor, and finance skilled William Jalloul, who began the corporate in 2021 with the concept to assist SMEs which might be the “coronary heart of the economic system” however don’t have entry to funding from conventional establishments.
Flowpay has developed an revolutionary solution to assess not solely the danger however extra importantly the potential of SMEs on the premise of which it offers operational funding for his or her progress.
Utilizing AI, Flowpay automates the complete course of from funding purposes to danger scoring and analysis. By leveraging embedded finance, it allows shoppers to make use of these providers the place they really feel most comfy, by platforms they use every single day, making the in any other case tedious course of simpler.
In accordance with Flowpay, not like banks, they don’t require shoppers to fill in pointless paperwork. As an alternative, Flowpay connects to their point-of-sales techniques or e-commerce platforms. Primarily based on this knowledge, it evaluates the provision of financing and presents every consumer a personalized mortgage to suit their wants.
“Utilizing the newest expertise to make it simpler and quicker for SMEs to use for working capital, Flowpay has developed what we consider could be a market main embedded lending proposition. We consider that the way forward for monetary markets will depend on the adoption of recent expertise to successfully present entry to funding to smaller gamers who’re more and more being left behind by banks. The partnership with Flowpay aligns instantly with Fasanara’s mission to bridge the multi-billion-euro funding hole confronted by European SMEs – particularly these excluded by outdated scoring fashions and missing the capital to develop optimally,“ says Matt Kus, Accomplice and Head of Origination at Fasanara Capital.
Along with facilitating entry to capital, Flowpay additionally presents companies quick utility analysis and a tailor-made method. Using AI and knowledge fashions allows environment friendly processing of purposes with out the necessity for advanced administration, lowering the time between utility and funding.
