Overview of the transaction
Twisto, considered to be a leading Central and Eastern European Buy Now Pay Later provider, raised over €16 million in funding.
This brings the total Series B equity round’s value to €24 million.
Participants included Zip Co and Elevator Ventures as well as existing investors in Twisto, Finch Capital, Velocity Capital, ING Ventures, and UNIQA Ventures
The investment will be put towards furthering BNPL innovation across Europe.
Overview of Twisto
Founded in 2013 by Michal Smida and headquartered in the Czech Republic, Twisto has established itself as the simplest way to pay in e-shops, in a region where cash on delivery (COD) was until recently the most popular form of payment for online goods.
Twisto has been used by more than 1.3 million customers to date. The Twisto Account, the company’s main product, is used by more than 160,000 customers today. The account is a credit-enabled digital wallet for omni-channel shopping, that includes both a physical and virtual payment card sponsored by MasterCard, mobile payments – Apple Pay and Google Pay, the advanced bill and invoice payment tool Snap, and a payment splitting feature called Split. Recently, the payment innovator also introduced an interest-free, three-instalment payment option in the region.
In 2018, Twisto successfully entered the Polish market, where they now offer the same range of services.
Royal Park Partners' role
Royal Park Partners acted as exclusive financial advisor to Twisto and its shareholders throughout the transaction.
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