Austrian Fintech cashpresso raises 3.5 million euros in a series A funding round, eu-startups.com reported. The investment, as announced will be used to expand its e-commerce consumer financial services as well as to launch and establish added product features such as cashpresso credit card and upgraded application for providing a buyer protection for higher sums of money.
“Our vision is to become one of the most popular financing solutions in e-commerce and to address additional target groups with product features” stated cashpresso’s team in their press release.
In order to reach that goal, as reported by the fintech, they have convinced the three already existing investors and managed to gain a new investor Hevella Capital.
And winning the later – Hevella Capital, acoording to Daniel Strieder, co-founder and CEO of cashpresso, is a great success having in mind that this investor is the most important player in the finance industry.
“With around 20 FinTech Investments, Hevella Capital is one of the most important players in the industry. We look forward to working with such an experienced partner and are confident that we can benefit from the wealth of knowledge and extensive network in our field”, says Strieder. “Also, we’re very proud about the united decision of our existing partners to invest again. Their renewed support for our goals and overall visions is a huge compliment and a clear sign that investors are satisfied with our work to date.”
Noel Zeh, Investment Manager at Reimann Investors, one of the “old” investors in cashpresso says that due to the constant growth and the increasing number of important partnerships they are continuing their supporting to this startup.
“Cashpresso shows high, constant customer growth and an increasing number of important and high-profile partnerships. We therefore 100% support cashpresso growth strategy. Consistent product optimization in the area of risk management and seamless integration into third-party e-commerce applications make it possible to address additional target groups. We look forward to stimulating additional growth with our investment”, says Zeh.
Founded in 2015 in Vienna Austria by Daniel Strieder, Michael Handler and Jörg Skornschek, is a Fintech startup providing financial solutions for more than 10.000 customers in Germany and Austria. As stated by the company their platform is made to fit the financial needs of every customer giving them choices to do their payments as they wish with no hidden costs. As a Fintech cashspresso doesn’t have a banking license, but at the moment they are having a great cooperation with the Deutsche Handelsbank.
Besides the latest investor – Hevella Capital and Reimann being one of the first investors in cashpresso, other companies that invested in this Fintech so far are VC Fonds Speedinvest, Dieter von Holtzbrinck Ventures, Hansi Hansmann, the founders of Runtastic and Stefan Kalteis.