Austrian FinTech startup cashpresso has raised €3.5m to expand its e-commerce consumer financing service.
The round was led by Hevella Capital, with participation from existing investors Speedinvest and Hansi Hansmann.
Founded in 2015, cashpresso provides online credit facilities in the e-commerce sector to over 10,000 customers in Germany and Austria. The startup gives customers choice in how to pay for purchases, be it in full or in installments, now or later. For merchants, cashpresso helps to convert more traffic to buy more. Easy to integrate, it is a straightforward way to boost sales.
“With around 20 FinTech Investments, Hevella Capital is one of the most important players in the industry. We look forward to working with such an experienced partner and are confident that we can benefit from the wealth of knowledge and extensive network in our field”, commented Daniel Strieder, co-founder and CEO of cashpresso, the new investment.
“Also, we’re very proud about the united decision of our existing partners to invest again. Their renewed support for our goals and overall visions is a huge compliment and a clear sign that investors are satisfied with our work to date.”
When financing purchases with cashpresso, customers profit from flexible repayments, simple repeat use and highly usable applications according to the company. To merchants, cashpresso is a free payment method that comes with 0% financing options to help boost sales by increasing conversion and average basket sizes.
To accelerate integration cycles in e-commerce, cashpresso developed plug-ins for the most common shop systems such as Magento, Woo-Commerce, Presta, Shopware and Drupal throughout last year. Apart from plug-ins, partners can integrate cashpresso through an easy-to-implement, in-house API.
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