PastPay enables businesses to extend payment terms for purchases from over 170 merchants by 15 to 90 days.Currently, the firm operates in Central and Eastern Europe (CEE), including Italy, Germany, Poland, Czechia, Slovakia, Romania, and Hungary, with expansion plans to other EU markets. Banks backing the funding round include MBH Bank, Advance Global Capital, Quantic Financial Solutions, STRT and BNL Start Partners, as well as a number of high-profile private investors, such as Jared Schrieber and Mark Ransford. The financing will be spent on investment in product development and the expansion of its digital services and infrastructure for both online and offline transactions.Bálint Réti, co-founder and COO at PastPay, says: “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 the current funding round we have the ability to finance over €300 million worth of invoices per year.”