Slovenian instalment payment solutions provider Leanpay said on Tuesday that it has secured 10 million euro ($10.8 million) in a Series B funding round led by Bulgarian private equity firm BlackPeak Capital and venture capital firm Catalyst Romania’s Fund II.
The round was also joined by Belgrade-based South Central Ventures and Hungarian venture capital fund Lead Ventures, both of which have previously invested in the company, Leanpay said in a LinkedIn post.
“This investment is a testament to our team’s hard work and commitment to delivering a superior user experience. It will enable us to solidify our market leadership in Slovenia, scale our operations in Romania and Hungary, continue to roll out innovative services and attract top talent to our growing team to become the digital consumer lending champion in the Central and Eastern European region,” Leanpay co-founder and CEO Misa Zivic said.
Founded in 2017, Leanpay is a buy-now-pay-later (BNPL) and point-of-sale lending platform with over 120,000 customers across Slovenia, Romania and Hungary and more than 200 million euro in issued consumer loans. Last year, Leanpay’s revenue grew by 250%, marking a fourfold increase since its Series A funding round.
BlackPeak managing partner Niklas Pichler will join Leanpay’s board to support the company’s growth, the private equity firm said in a separate statement.
“The shift in consumer behaviour towards flexible payment methods like BNPL is increasingly influencing daily life for all generations as well as reshaping the e-commerce landscape, being pivotal for both businesses and customers alike. We are excited to partner with Leanpay, a Slovenian leader in responsible lending and a pioneer in the third-generation BNPL solutions in our region operating an asset-light model,” Pichler said.
