Pago funding news – Pago Secures €2.3 Million in Funding

The total round of €2,300,000 was co-invested by Mozaik Investments, a private equity firm focused on supporting small and medium-sized enterprises (SMEs) in Central and Eastern Europe (CEE). With the raised investment, the company aims to reach 6 million phones in Romania with its services and expand internationally to 5 countries, including Italy, Poland, and the Czech Republic, in the coming years.

Adrian Cighi, co-founder of Pago, stated: "We are impressed and grateful for the investors' support and the rapid evolution of the funding round. The capital raised will help us accelerate growth in the coming years, both through new integrations in partner applications in Romania and by replicating our success here in 5 other countries where we are already present or plan to expand soon."

Eric Bartha, Head of Financial Services at SeedBlink, added: "Pago has understood that success comes from building a strong community, attracting over 220 investors through SeedBlink. We are proud to offer a platform that supports companies aiming for a public listing in the next 2-3 years. Congratulations to the team for this remarkable success."

The raised capital will be used to improve Pago's app features, strengthen strategic partnerships with banks and partner applications, and develop services offered in 5 other countries.

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While Romania remains a market with growth potential, Pago is already accelerating its international expansion. The app is active in Italy and Poland, markets are chosen strategically due to their similar technical infrastructure and organization to Romania. They plan to improve the user experience, initiate local B2B integrations, and grow dedicated teams for each country.

About Pago

Pago is the payment service launched in 2017 through which over 500,000 active monthly users pay utility bills to over 400 integrated providers, insurance, mobile top-ups, road tax, taxes, donations, and real-time money transfers. The app is available on Android and iOS. More details are available on pago.ro.