Spain-Based Pagantis Aims for France

FACTS

  • recently announced a funding series and aims beyond Spain as they now seek to enter the French market.
  • This FinTech lets e-merchants feature instalment options for their customers, so they can spread their transactions over 2 or 3 monthly payments. An instant and fully automated process applies based on algorithms.
  • Pagantis charges up to 2.5% to merchants.

PAGANTIS: KEY FIGURES

  • Founded in 2011
  • Over €500M originated in online consumer loans
  • Initially positioned in Spain and in Italy

CHALLENGES

  • Aiming for the right players. Their point is to provide flexible in-store and online financing solutions to merchants in France (e.g.: Pagantis teamed up with Rise of Gunpla (online store selling scale models). They mostly aim for merchants reporting €1 to 2 million in sales.
  • Gaining ground on the European market for instalments. Pagantis  will be teaming up with companies such as Magento, Prestashop or Shopify, as well as with French banks on featuring their solution as white label offer.

MARKET PERSPECTIVE

  • By way of entering building their French presence, Pagantis plans to hire a dozen employees within a year.
  • Besides, they consider expanding their range of offers in France in 2020, with an instalment service for spreading transactions over 12 payments.
  • They could soon be aiming for Portugal as well and launching a new virtual credit card in partnership with Mastercard.
  • Pagantis directly challenges the French start-up Alma which provides small Web-merchants with financing solutions (splitting payments in three instalments). Alma is also looking into a service for spreading payment over 12 instalments. And Banque Casino recently launched CB10X with Orchestra.

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