LeaseLink, a Warsaw, Poland-based provider of financial leasing transactions, has raised nearly $2.45m in its latest round of financing.
The round saw current investor, Pragma Factoring SA, buy another 13.2% in the company, with the transaction valuing LeaseLink at $19m USD.
In the last 18 months LeaseLink claims to have achieved a ‘leading position’ in the microtransaction segment.
LeaseLink provides micro companies and SMEs with a service to finance leasing transactions, valued between $250 and $15,000. It provides its services through a multichannel distribution network of 2,500 partners, which include online stores, agents, brick-and-mortar stores and banks, who offer LeaseLink to their customers.
Media Markt, Saturn, RTV Euro AGD and Inter Cars currently use the business as a payment method. While ING Bank Śląski and Raiffeisen Polbank have also started to offer LeaseLink’s services.
It operates a ‘self-service model’, where the customer completes the entire procedure in just a few minutes, without having to fill out and submit an application, according to the startup.
Wojciech Kazimierski, president of the board and co-founder of LeaseLink, said: “We are building a multi-product strategy based on consumer leasing, investment loans, deferred payments and renting which are part of a global trend towards using, not owning.
“We are not far from cross-selling on the extensive distribution system which we have built on the Polish market. It is for this reason that the financing which we receive is a starting point to begin scaling market services internationally and to begin using artificial intelligence and machine learning.â€
Earlier this year, Creamfinance, which provides consumer finance services, closed the largest ever FinTech deal in Poland by raising $22.7m from Capitec Bank.
Rankomat.pl currently holds the second largest FinTech deal in Poland following its $12m financing in 2010. While Blockchain business Golem Network collected $8.6m last year to come third on the list.
Copyright © 2017 FinTech Global
![Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments. NBI, which has 27 branches across Iraq, offers a comprehensive range of services to individuals and businesses in the country. Since 2005, NBI has been majority owned by Capital Bank, one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 7.6 billion[1]. With this implementation, NBI moved from its legacy systems onto the same core banking platform as other entities in the Capital Bank Group. This will enable NBI to operate more efficiently and integrate seamlessly with other systems to develop new products faster and deliver an improved customer experience. Capital Bank Group is a long-standing Temenos customer with other entities in the Group including Capital Bank of Jordan, Bank Audi, Société Générale Bank Jordan and NBI Saudi Arabia, already on the Temenos platform. NBI also becomes the first part of the group to adopt Temenos Payments, which enabled the bank to process more than 100,000 transactions of incoming and outgoing domestic and international payments in the first 15 days of operation, with a 99% straight-through processing rate. The migration to the Temenos platform for core banking and payments at NBI was completed in under 12 months thanks to Temenos’ pre-configured banking and payments capabilities and APIs which reduced the need for complex customizations, as well as close collaboration between Temenos, NBI, Capital Bank and delivery partner ITSS. This success was recently recognized in the IBS Intelligence Innovation Awards, with Capital Bank winning ‘Best Implementation of Core Banking Services'. The implementation at NBI follows several other successful transformation projects with Temenos for Capital Bank in the last few years, including the launch of NBI’s branch operations in Saudi Arabia in just 45 days, as well as the integration of Bank Audi and the former Jordanian operations of Société Générale, each of which was achieved in under four months. Collectively, these projects helped Capital Bank to increase operational efficiency by more than 50% within three years, bringing significant cost savings and an improved customer experience. With faster, more accurate processing and immediate service requests, the bank has maintained high customer retention rates and a reputation for service excellence. Izzidin Abusalameh, Chief Operations Officer, Capital Bank Group, commented: “This achievement marks a significant milestone in our digital transformation journey and positions us as a leading player in the banking industry. We have seamlessly transitioned the National Bank of Iraq to a cutting-edge core banking system which will not only enhance operational efficiency but also support providing our customers with a superior digital banking experience. Our continued partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans.” Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said: “Congratulations to National Bank of Iraq and the Capital Bank team on this successful implementation that gives NBI business agility and the same modern technology platform and ability to deploy fast with pre-configured banking capabilities as the rest of the group. With Temenos, Capital Bank Group is future-ready, and we are proud to support them as they continue to innovate and leverage our platform to grow sustainably and enhance the banking experience for customers.”](https://fintech.global/wp-content/uploads/2024/04/rupixen-Q59HmzK38eQ-unsplash-2-218x150.jpg "Flutterwave teams up with Acquired.com to streamline outward remittances in EU and UK")
