BNPL fintech Leanpay enters Romania after EUR 1 mln investment
Leanpay, a leading provider of Buy Now Pay Later (BNPL) services in Central and Eastern Europe, started operating in Romania in April this year after a total investment of EUR 1 million. The startup is also present in Slovenia and Hungary.
The instalment payment solution that addresses both online and offline shops has already been integrated by retailers such as Flanco, PC Garage, Lensa, and Mobilier1.
Leanpay Romania is part of the Leanpay Group, active since 2018 and coordinated by the founders Miša Živić - CEO, Janko Medja - CBO, and Tilen Zugwitz - CFO. The company offers instalment payment solutions for merchants and consumers, having more than 100,000 end users, consumer credits issued in the amount of more than EUR 100 million, and about 800 merchant partners.
The startup has secured an investment of EUR 2.5 million from the Lean Ventures fund, planning to use the funds for expansion in the region. Thus, Romania and Hungary were the next countries targeted.
Leanpay Romania obtained the license from the National Bank in September 2022, and the actual operational activity started in June 2023. The local team is coordinated by country manager Vlad Răduțu, a professional with over 20 years of management experience in financial services.
“Romania is the largest market in Central and Eastern Europe for the type of services we offer, and it still presents a formidable growth potential, being dominated by a strong competitive character,” said Vlad Răduțu.
The fintech wants to attract more than 500 merchants in 2024.
(Photo source: the company)