HeidiPay closes a new funding round and teams up with Compass
Geneva, 13th October 2022 - HeidiPay, the Swiss Fintech company, has announced the closing of a new funding round led by Compass Banca SpA (“Compass”), the consumer credit arm of Mediobanca Group (BIT: MB). This capital injection secures both growth equity and credit lines to support its fast expansion in the Swiss market and internationally. Compass selected HeidiPay as “BNPL enabler” for the Italian market, leveraging its next generation technology & strategic know-how.
Accelerating the expansion in the Swiss Market
On the back of an exponential growth in its first year of operation in Switzerland, HeidiPay has gained over 300 merchant partners including prestigious brands and retailers. This capital injection enables it to scale its existing operations, while benefiting from significant credit lines to support the requirements of large merchants.
Launch of its “BNPL enabler” solution in Italy
HeidiPay is powering Compass’ ecommerce BNPL solution in Italy, branded PagoLight. HeidiPay provides a full set of ecommerce plugins/APIs, technology stack, anti-fraud & conversion analytics tools to enable Compass to deliver one of the most flexible BNPL solutions in the Italian market. Compass retains full control of the risk decisioning, funding and post-sale operations, leveraging its market leading know-how and infrastructure. With one single integration/API, merchants with an international presence are now able to offer flexible terms from 3 to 12 months in Italy and from 3 to 24 months in Switzerland, with more countries going live soon.
“The BNPL market is at a turning point, where leading banks are realizing they have a key role to play, leveraging their superior risk management, operational scale and balance sheet”, said Matteo Bozzo, co-founder and CEO of HeidiPay. “We believe the fintech + banks partnership is the winning model of tomorrow if both work hand in hand toward the same goal. In less than 4 months, we were able to launch with Compass a market leading BNPL offering in Italy, and we continue to work together to bring new innovations to the market in record time.”
Founded in 2021, Heidi Pay AG (“HeidiPay”) is a Swiss fintech enabling merchants, marketplaces and lenders to offer next generation buy-now-pay-later (BNPL) and retail financing solutions to their customers. It operates its B2BC operations under its own brand in Switzerland and provides BNPL-as-a-service solutions internationally for lenders.
To know more about HeidiPay visit https://www.heidipay.com/en-ch/