Led · Equity · Mar 2020

Paynetics is a Sofia-based payment service provider that offers end-to-end payment solutions in Europe, including card acceptance and issuance, account management, bank transfers, and e-wallets. Users can integrate additional services such as loyalty programs and automated marketing. The company received €2.5 million in new investment from Bulgarian VC fund New Vision 3 and the Bulgarian American Credit Bank (BACB). New Vision 3 is backed by the Fund Manager of Financial Instruments in Bulgaria and has cited fintech and digital payments as a core investment focus. With the new funding, CEO Antonina Martinova said Paynetics will expand its services to micro, small and medium merchants. Paynetics’ digital payment services are also used by platforms such as phyre, which offers Payment-as-a-Service and Banking-as-a-Service to enterprise customers.