Czech Republic-based mobile payment app developer Twisto has secured €16m ($19.5m) in a round co-led by financial technology provider Zip and financial services firm Raiffeisen Bank International (RBI), CrowdfundInsider has reported.
Elevator Ventures invested on behalf of RBI, and the round included financial services group ING Bank, insurance provider Uniqa, Finch Capital and Velocity Capital.
Twisto was founded in 2013 and runs a payment and consumer lending service that enables consumers to settle online purchases through its app on the 15th of the following month. Larger payments can also be deferred until a later date or divided into various instalments.
ING and Uniqa had already taken part in a $15.6m series B round for the company in mid-2019, through respective strategic investment vehicles ING Ventures and Uniqa Ventures. ING’s Poland-based ING Bank Śląski subsidiary also participated, as did Finch Capital and Velocity Capital.
Twisto raised $9.9m in equity and $2.5m of debt financing from undisclosed backers in 2018, following a $5.9m series A round the year before led by ING Ventures that also featured Uniqa Ventures.
The company had raised an undisclosed amount in pre-seed funding from Enern Investments at an unspecified date, and its other shareholders include financial consulting firm Partners Financial Services, asset manager Milton and private investor Cezary Smorszczewski.
