BlackPeak Capital Leads Investment Round in Slovenian BNPL and Point of Sale Lending Provider Company Leanpay to Secure €10M Series B Funding
The fact that a Slovenia-based company receives funding from Bulgaria and Romania-based investors is a testimony to the fact that Southeast Europe is coming closer together. Our collective efforts aim to make the region more competitive, strengthen its digital economy, and foster a spirit of collaboration and innovation.
Originating from Slovenia, Leanpay is now present in Romania and Hungary and boasts 120 thousand satisfied customers, more than €200 million in consumer loans issued, and cooperation with over 1500 merchant partners, enabling consumers to pay in installments for a wide range of purchases. Last year alone, the company's revenue grew 2.5x, while since Series A, the company's revenue growth has been 4x.
In Slovenia, Leanpay holds the highest brand recognition and is the undisputed market leader in installment payments, serving over 120,000 satisfied users and partnering with 1,000 merchants. In Romania, Leanpay has established a robust local presence with partnerships across flagship stores, poised for accelerated growth. The company is also expanding operations in Hungary, supported by an already established local team.
This funding will enable Leanpay to scale operations, introduce innovative services, and attract top talent to solidify its market position.
Black Peak Managing Partner, Niklas Pichler and instrumental in the success of this transaction, will join Leanpay's board to bolster the company in achieving its growth objectives. “The shift in consumer behavior towards flexible payment methods like BNPL is increasingly influencing daily life for all generations as well as reshaping the e-commerce landscape, being pivotal for both businesses and customers alike. We are excited to partner with Leanpay, a Slovenian leader in responsible lending and a pioneer in the 3rd generation BNPL solutions in our region operating an asset-light model”, he said. “Covering an interesting niche within the BNPL space, we are confident that the Company, with our support, will achieve its full potential and make a significant impact on the market.”
Marius Ghenea, Managing Partner, Catalyst Romania said:
“We are seeing great potential for LeanPay in our investment region and it was a natural move for Catalyst to participate in this investment round, especially since we can help create significant additional value in the Company particularly in one of the key markets of Eastern Europe, Romania. We have specific expertise in the team, we have the local network and we can bring together multi-channel opportunities for LeanPay here, as we have already started to do, in the months leading to the investment.”
Miša Živić, CEO of Leanpay, expressed his enthusiasm about the new funding: "This investment is a testament to our team's hard work and our commitment to delivering a superior BNPL experience. We are excited to launch new innovative services and products that will further empower consumers and merchants alike, ultimately becoming the digital consumer lending champion in the Central & Eastern Europe region.”
Janko Medja, Leanpay co-founder and CBDO is proud of how Leanpay accelerates merchant partner revenues across different retail industries. "We have provided value to numerous merchants across a wide range of industries, from electronics and furniture to sports equipment, medical services, and much more. We work with some service providers where Leanpay is one of the top two payment methods, occasionally even the first one. When we implement our solutions with the partners, they can instantly reap the benefits. On top of that, we listen to shops' feedback to customize our approaches and innovate solutions, leading to even greater success for our partners."
"This investment will improve Leanpay's capital structure and decrease overall financial risk. Additional funds will enable greater investment potential and strengthen the financial stability of all companies in the Leanpay group," stated Tilen Zugwitz, Leanpay co-founder and CFO.
Leanpay is renowned for its seamless user experience, setting it apart from traditional financing options. The platform offers an entirely digital experience, eliminating the need for bank visits or paper documentation. Users enjoy the flexibility to choose their own installment plans, making Leanpay a convenient and user-friendly choice.
Recently, Leanpay has been focusing on expanding its capabilities to support more significant purchases and services. This includes sectors like house renovations, green energy, automotive, and healthcare. The new investment will accelerate these efforts, further enhancing Leanpay’s offerings and solidifying its market leader position in Slovenia, Romana, and Hungary.
The platform offers an entirely digital experience, eliminating the need for bank visits or paper documentation. Users enjoy the flexibility to choose their own installment plans, making Leanpay a convenient and user-friendly choice. It is renowned for its seamless user experience, setting it apart from traditional financing options.
About Catalyst Romania Fund II:
Catalyst Romania is a fund manager that launched the first private equity and venture capital fund dedicated to Romania in 2012, financed through JEREMIE. The fund manager prioritizes investments in rapidly growing sectors, including Technology & Internet, Media & Communications, and Technology Services. The team provides growth capital to companies that are or have the potential to become regional leaders or global players. For more information, please visit www.catalystromania.com. Catalyst Romania Fund II SCSp (“Catalyst Romania” or “Catalyst Romania Fund II”) is an alternative investment fund managed by Catalyst II GP S.à.r.l. acting as an alternative investment fund manager, both companies being organized under Luxembourg law.
About InnovFin Equity and JEREMIE Holding Romania:
Catalyst Romania Fund II is supported by (i) JEREMIE Holding Fund Romania, an investment program between EIF and the Government of Romania, where EIF acts on behalf and for the ultimate benefit of the Romanian Government and invests the returns generated by the operations carried out within the JEREMIE Holding Fund Romania during the eligible period 2007-2013, and (ii) InnovFin Equity, with the financial support of the European Union under the Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) established under the Investment Plan for Europe. The objective of EFSI is to support financing and implementing productive investments in the European Union and to ensure increased access to financing.
About EIF:
The European Investment Fund is part of the European Investment Bank Group. Its central mission is to support European microenterprises and SMEs by providing access to finance. EIF develops venture capital and growth instruments, guarantees, and microfinance instruments specifically targeting this market segment. Through its role, EIF promotes EU objectives in support of innovation, research, and development, entrepreneurship, growth, and employment.