Key facts
- Paypercut secured EUR 5 million in a seed funding round.
- The round was co-led by Concentric, Passion Capital, and Araya Ventures.
- Total funding for Paypercut now stands at EUR 7 million.
- Funds will be used for market expansion and new product development.
- The company is pursuing an EMI license from the Central Bank of Ireland.
Paypercut, a fintech company focused on online merchant payments in Central and Eastern Europe, has successfully closed a EUR 5 million seed funding round. The investment was co-led by venture capital firms Concentric, Passion Capital, and Araya Ventures. This latest funding brings Paypercut's total capital raised to EUR 7 million. The company plans to utilize these funds to drive its market expansion across the region, invest in the development of new products and services, and support its ongoing application for an Electronic Money Institution (EMI) license from the Central Bank of Ireland. The expansion aims to enhance payment solutions for online merchants.