European private equity firm Financial Services Capital has successfully led the €2 million Series B funding round of Barion Payment plc, a leading Hungarian fintech startup. The new funding wiill enable Barion to continue its expansion into additional European markets and bring to market innovative payment products and services.
Barion is one of Financial Services Capital’s first investments as part of its Enabling Technologies portfolio. Barion, established 2015 in Budapest, Hungary, provides electronic payment solutions: an online payment gateway and an electronic wallet. The fintech has achieved dynamic growth since its launch, and currently serves more than 7000 e-commerce partners in five countries (Austria, Czechia, Hungary, Germany and Slovakia), with its processing volume having tripled over the past year. Barion was listed among the 10 Hungary-based startups to watch out for in 2020 on EU-Startups this January.
To date 2.3 million users have used Barion’s payment services, with total volume of transactions surpassing €300 million per year. The fintech plans further dynamic expansion in Central Europe and intends to launch a range of new services soon. Previously, Prague-based Home Credit Group, one of the largest personal finance providers in Europe also invested into Barion within the frameworks of a Series A investment round.
Financial Services Capital is a sector specific European private equity firm with a presence in London, Prague, Madrid, Vienna and Luxembourg. It leverages its team’s vast operational experience and proprietary technology solutions to create transformational value across financial services portfolio companies.