Growish picks up €400,000 for group payments platform

Milan-based group payments platform Growish has picked up €400,000 in a fresh round of funding.

The investment comes from Club degli Investitori, Banca Sella Holding, R301 Capital, angel backer Lodovico Rosnati and the startup’s founders.

The company says the funding will be used to expand in its native Italian market and launch overseas.

Growish aims to lets users collect money in a group and make a payment. Users set an amount and a collection date then invite others to contribute.

The funding will be used in part to help the company push into new sectors such as travel, retail, e-commerce, banking, sharing economy, community and donations.

Since it was founded in 2014 the company has managed more than €3m in transactions with more than 30,000 contributors making payments through its own platform and across its partners including LastMinute.com and Uvet Travel Network.

Growish previously raised €500,000 in a Seed round in October 2014.

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