BNPL platform SeQura has received €150m in senior financing through an asset-backed agreement with Citi.
Additionally, existing financing partner Chenavari continues its support for SeQura, bringing the total financing potential up to €200m.
This new facility will increase the company’s overall funding capacity and support SeQura’s international expansion across Southern Europe. It will also support the development and launch of new and innovative payment solutions.
The company stated the agreement will significantly reduce SeQura’s funding cost and will allow SeQura to further its investment into strategic and high-growth initiatives to support its mission of being the preferred partner to merchants.
Based in Barcelona, the BNPL company offers digital payment solutions with a focus on Southern Europe and Latin America. Its services include ‘pay now’, ‘buy now pay later’ and ‘pay in three’. SeQura CFO Markus Jennemyr said, “We are del
ighted to enter into a new financing with Citi, one of the largest and most renowned banks in the world, which will support our focus on building a sustainable business model and enables us to continue to bring innovative payment solutions for both merchants and shoppers.”
The company was bootstrapped until the end of 2021 and has rapidly grown at an average of 100% per year over the past five years. It is forecasting a €100m revenue run-rate by the end of 2023.
Earlier in the year, Spain-based financial group GVC Gaesco recently signed a partnership with WealthTech giant FNZ to cement its digitisation initiative.
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