LeaseLink, a Warsaw, Poland-based provider of financial leasing transactions, has raised nearly $2.45m in its latest round of financing.
The round saw current investor, Pragma Factoring SA, buy another 13.2% in the company, with the transaction valuing LeaseLink at $19m USD.
In the last 18 months LeaseLink claims to have achieved a ‘leading position’ in the microtransaction segment.
LeaseLink provides micro companies and SMEs with a service to finance leasing transactions, valued between $250 and $15,000. It provides its services through a multichannel distribution network of 2,500 partners, which include online stores, agents, brick-and-mortar stores and banks, who offer LeaseLink to their customers.
Media Markt, Saturn, RTV Euro AGD and Inter Cars currently use the business as a payment method. While ING Bank Śląski and Raiffeisen Polbank have also started to offer LeaseLink’s services.
It operates a ‘self-service model’, where the customer completes the entire procedure in just a few minutes, without having to fill out and submit an application, according to the startup.
Wojciech Kazimierski, president of the board and co-founder of LeaseLink, said: “We are building a multi-product strategy based on consumer leasing, investment loans, deferred payments and renting which are part of a global trend towards using, not owning.
“We are not far from cross-selling on the extensive distribution system which we have built on the Polish market. It is for this reason that the financing which we receive is a starting point to begin scaling market services internationally and to begin using artificial intelligence and machine learning.â€
Earlier this year, Creamfinance, which provides consumer finance services, closed the largest ever FinTech deal in Poland by raising $22.7m from Capitec Bank.
Rankomat.pl currently holds the second largest FinTech deal in Poland following its $12m financing in 2010. While Blockchain business Golem Network collected $8.6m last year to come third on the list.
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