Pagantis raises €65 million series B from Prime Ventures, SPF Investment Management, and Rinkelberg Capital Group

Pagantis, a Barcelona, Spain-based provider of financing solutions for e-commerce customers, announced in a press release the completion of €65 million ($73.5M) series B capital funding.

The money was provided by a range of investors including Prime Ventures, SPF Investment Management, and Rinkelberg Capital Group.

The proceeds will be used to expand the startup’s e-commerce consumer credit service in Italy, France and Portugal.

Pagantis, founded in 2011 and led by CEO Rolf Cederström, developed an e-commerce platform, known in the Spanish market as Paga + Tarde, which allows consumers to pay for goods and services in monthly installments through a fully automated process, and provides e-commerce sites with a simple integration process to offer consumer credit along with their purchases. The company offers omnichannel financing with instant online approval, carried out in real time through an innovative scoring algorithm. This algorithm analyses the risk of fraud and credit, relying on big data and machine learning techniques, with the aim of ensuring the highest possible acceptance by always controlling the risk of delinquency of each financing.