Czech Republic-based consumer lending and payments platform Twisto has attracted €14m ($15.6m) in a series B round featuring insurance group Uniqa and financial services firm ING, Finovate has reported.
Uniqa invested through its Uniqa Ventures unit while ING took part through ING Ventures as well as its Poland-based commercial banking subsidiary, ING Bank Śląski. The round was led by venture capital firm Finch Capital and included investment firm Velocity Capital Private Equity.
Founded in 2013, Twisto operates a quick consumer lending platform that allows customers to defer payment for online and offline goods through its mobile app and credit card. It provides near-instant lending decisions through its own credit scoring system and also offers real-time updates on purchases.
Twisto has received a total of $23.5m in equity funding and $16.8m in debt financing. It reportedly raised $9.9m of equity and $2.5m of debt from unnamed investors in March 2018 according to Finovate, after a $5.9m series A round in late 2017 that was led by ING and backed by Uniqa.
The company’s other investors include financial services provider Partners, investment fund manager Enern, asset management group Milton and individual investor Cezary Smorszczewski.