Payhawk said to raise €3m in seed round

Bulgarian FinTech Payhawk has reportedly raised €3m in seed funding as it looks to increase its presence in Germany.

The capital injection was led by Earlybird’s Digital East Fund, with contributions also coming from firms including TinyVC, according to a report from EU-startups. A selection of angel investors also contributed to the round, including former Visa Europe chief commercial officer Mark Antipof and Sage chief strategy officer Keith Robinson.

With the equity line, the company will look to boost its exposure in the German market, the reports state.

The FinTech company offers payment processing technology which helps businesses improve their cash flow and save money, it claims. Its services include credit card payment methods for online, retail and mobile, electronic payment methods including ACH payments and loyalty cards, bill presentment, reporting and more. Payhawk offers a various pint-of-sale terminals, including desktops and tablets.

Earlier in the year, Bulgaria’s finance minister revealed the company is looking to launch a RegTech sandbox to support the development of FinTechs in the country.

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