Twisto raises €14 million to lead mobile payments expansion in Central and Eastern Europe

Funding will help Twisto to accelerate innovation and its expansion in Europe

Twisto, the credit-based mobile payments app which enables customers to pay for their online purchases with just one click, has raised €14 million in a series B round with new and existing investors to fund its further expansion in Europe. The investment round was led by Finch Capital and co-led by Velocity Capital. ING Ventures, UNIQA Ventures and ING Bank Slaski also joined the round, following their earlier €5 million Series A investment. ENERN stays on as main investor.

The investment will help Twisto to achieve its ambition, which is to have two million customers in Central and Eastern Europe use the Twisto app for everyday finances, payments and instant credit in the next five years.

Fintech firm Twisto, founded in 2013 in Prague, created a unique payment app, which is a popular solution for daily payments and instant financing for consumers. Twisto’s payments solution is credit-based, as that has proven to be a safer and more convenient way for consumers to do their payments. Later this year, a debit feature will also be added to the Twisto solution, which enables consumers to prepay their purchases.

More than 500,000 users The fastest ‘buy now, pay later’ solution, Twisto has been used by 500,000+ customers in the Czech Republic and Poland since its launch. In addition to one-click online payments, Twisto offers an app with revolving credit limit for daily payments, linked to MasterCard, and an NFC bracelet. Additionally, the app offers an advanced bill and invoice payment solution (Snap) and split-purchase function (Split). In February 2019, Twisto was among the first payment providers to offer Apple Pay in the Czech Republic. Twisto expanded to Poland in mid-2018, marking the first milestone in its European expansion.

The new investors, Finch Capital and Velocity Capital, will help the company fulfil its vision and accelerate growth. “The 2017 Series A allowed Twisto to establish itself in Poland, offering the fastest ‘buy now, pay later’ payment in e-shops. This year we will launch the full version of the app linked to MasterCard and Apple Pay in Poland. Thanks to the new funds we will solidify our leading position in the Central and Eastern Europe and launch several unique product innovations this year,” reveals Michal Smida, founder and CEO of Twisto.