Mash raised EUR 25M from a group of institutional investors.
Mash Group Plc, a Helsinki, Finland-based company specializing in consumer lending and pay later solutions, announced that EUR 25 million ($28M) of its preferred E-series shares have been subscribed by a group of institutional investors through a directed issue.
The additional equity will help speed up the growth of the Group.
The subscriptions bring the total additional equity raised from the start of 2018 up to EUR 64 million (IFRS) or 58 million (FAS).
The investment follows a year of growth for the Fintech 50 Group, leveraging close partnerships with major incumbents in ecommerce and point of sale payments, including Magento, Shopify, Verifone, Nets, Tink and reaching 110% revenue growth and 221% EBIT growth for the year 2018 as well as record revenue for the first quarter of 2019.
Mash, founded in 2007 and led by CEO Gaëtan Van Wynsberghe, uses advanced proprietary algorithms, machine learning capabilities, and automated platform to deliver superior finance and payments solutions to thousands of customers every day.