Warsaw-based LeaseLink reels in $2.45m

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.”

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

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