RO startup Beez raises EUR 1.2 mln to help online buyers get better terms

Romanian FinTech Beez, operating on both the Romanian and the UK markets, announced it concluded a new investment round of EUR 1.2 million, Wall-street.ro reported.

Local venture capital funds RocaX and GapMinder, who provided a EUR 250,000 financing in the first round, are among the investors in the second round as well.

Beez is developing applications to help systems of cashback and installments with no interest for online retailers - under a system that is different from the traditional bank-based financing system.

The company has already operated for one year and a half and, since its launch (the web platform and the mobile application), has served over 160,000 users, and over EUR 290,000 was “saved” in transactions (by cashback discounts provided to buyers).

At this moment, the platform offers cashback to users on every purchase and expands with the possibility to buy products online, but also offline and pay within 45 days, through a system of installments without fees or interest.

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