Flowpay, a Prague-based fintech company, has secured €30 million in debt financing from Fasanara Capital, the Recursive reports. The investment will be used to provide working capital financing for SMEs, with the goal of establishing Flowpay as a major player in the embedded finance sector.
About Flowpay
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Founded by William Jalloul in 2021, Flowpay is a fintech startup providing operational financing to small and medium-sized enterprises (SMEs) to fuel their growth.
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The company uses AI and Embedded Finance to automate the entire funding process, from application to risk scoring and evaluation. Flowpay connects to clients' point-of-sale systems and e-commerce platforms to gather data and assess their financial potential. This essentially eliminates the need for paperwork and allows Flowpay to offer customized loans tailored to each client's needs.
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In March 2024, Flowpay raised €2.1 million in a seed round to scale beyond the Czech Republic and offer its services to a wider range of SMEs. The round was led by Techstars, a global pre-seed investor, along with notable Czech venture capital firms like Soulmates Ventures and DEPO Ventures.
Investment details
This debt financing round was backed by London-based investment manager Fasanara Capital. It is an independent, owner-managed alternative asset management company authorized and regulated by the Financial Conduct Authority.
“This credit line from Fasanara Capital strengthens our position as one of Europe’s top embedded lending providers. It enables us to scale beyond the Czech Republic, Slovakia, and the Netherlands at a much faster pace. Our vision is to become the next Czech unicorn,” said William Jalloul, CEO and founder of Flowpay.
Flowpay is also one of seven European startups chosen for the IBM fintech program and is actively driving the development of generative AI in financial services.
The company will use new funding to enhance its AI and data models, which streamline application processing and reduce the time between application and funding, without the need for complex administration.
