Hungary-based flexible B2B payments provider PastPay has received EUR 12 million in Series A to provide innovative B2B payment solutions with flexible payment terms. 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 enable merchants and their business customers to manage payments on their own terms. The platform facilitates seamless transactions both online and offline, providing flexible payment terms that enhance liquidity for companies across the European Union.

Specifically, PastPay enables businesses to extend payment terms for purchases from over 170 merchants by 15 to 90 days. How will PasPay utilise the new funds? 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, ensuring that merchants operating in both digital and traditional formats are fully supported.

Executives from 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 they need to invest further in the product side and with the growing threat of AI-enhanced cybercrime, strengthen their risk infrastructure.

PastPay’s officials added that in terms of expansion, historically they have focused on the CEE region, however their goal is to become a pan-European provider and a reliable payment and financing partner for all transactions within the European Union and EEA. Their partnership with the new investors aligns with their vision of making financing accessible to as many SMEs as possible. With the current funding round they have the ability to finance over EUR 300 million worth of invoices per year.

Since launch, PastPay has already empowered over 170 merchants to offer flexible payment terms, enabling customers to pay later on more than 15,000 occasions. In doing so, the company has allocated over EUR 33 million in financing to support SMEs across the European Union, helping businesses to grow with greater financial flexibility. Now, on the back of this sizable raise, PastPay is well-positioned to further accelerate this growth and expand its B2B payment solutions, including B2B Buy Now, Pay Later across Europe as it works to reshape the future of B2B payments.

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