Finch, Velocity co-lead €14m series-B for Twisto

Existing investors ING Ventures, Uniqa Ventures and ING Bank also took part in the round.

The fresh capital will be used to boost Twisto's European expansion and achieve its goal of two million customers in CEE in the next five years.

To date, Twisto has secured €21m in equity funding and €15m in debt, which is used to finance the customer credit portfolio. It is seeking a further €30-40m in debt by year-end.

Previous funding
Enern Investments led Twisto's first seed round in 2013 alongside angel investors, and participated in four further venture rounds prior to the series-A with a total value of around €2m.

Uniqa and ING co-led the €5m series-A for in 2017.

Company
Twisto was founded in 2013 and is headquartered in Prague. The company has developed a credit-based payment app for consumers in the CEE region. It is linked to Mastercard and currently has 500,000 users.

People
Twisto – Michal Smida (CEO).

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• Topics
• Expansion
• CEE
• Technology
• Venture
• Czech Republic