365.fintech invested in PénTech, a Budapest-based startup building a digital invoice factoring solution for small and medium enterprises.
PénTech's smart factoring solution enables businesses to access liquidity and unlock working capital within 24 hours via its digital-first platform. The startup is a graduate of MKB Fintechlab accelerator and has recently won a 1st prize at FintechShow, the most prestigious digital financial event in Hungary.
365.fintech participated in a pre-seed financing round, which will enable the company to roll out its solution in the Hungarian market first, with plans to expand to further Central and Eastern European markets.
We have decided to invest in PénTech given the combination of a driven and complementary founding team and significant market opportunity in the SME lending space.
Rudolf Vrábel, Managing Director at 365.fintech explains: “We believe the needs of small and medium businesses are underserved. Short-term liquidity issues are one of the key pain points for the entrepreneurs - and this is especially true in Central and Eastern Europe. We are excited to support PénTech in rolling out its smart factoring solution in Hungary and beyond.”