Paynest raises €2M for European expansion

Paynest, a digital payments ecosystem platform, has announced an investment round worth €2 million led by Lince Capital and with BlueCrow Capital, TechTree CTT and M4 Ventures.

With this round, the Portuguese fintech has accumulated a total of €2.5 million after just one year in operation.
Paynest aims to help people avoid using microcredit while, at the same time, contribute to attracting and retaining company talent. The flexible salaries payment platform, which is both in Portugal and Greece, allows an employee to retrieve a part of their salary they have already earned, which in turn will enable companies to increase their attractiveness and improve talent retention, as well as levels of productivity.
“A company that provides this benefit will be seen as a pioneer, and therefore more attractive in the eyes of job seekers,” said Nuno Pereira co-founder of the company back in January in an interview with the news source ECO.
In a statement, the startup states: “We are thrilled to announce that Paynest has successfully raised €2Mn in seed funding! This incredible milestone will allow us to double down in our commitment of improving financial wellbeing for employees by investing in product development and expanding our go-to-market efforts across Europe”.
“A huge thank you to our incredible backers: LINCE CAPITAL, BlueCrow Capital, CTT – Correios de Portugal managed by Iberis Capital, and M4 Ventures for their trust and support. Your belief in our mission fuels our passion to make a positive impact in the financial well-being landscape.”