PayCar, a Paris, France-based secure payment startup, raised €1.3m in its first round of funding.
The round was led by the BNP Paribas Group.
The company intends to use the funds to continue to develop the platform, speed up adoption of its service and drive business growth.
Founded in March 2015 by Vincent Marty Lavauzelle and Michael Waldman, PayCar provides a secure payment solution for the peer-to-peer sale and purchase of second-hand vehicles. By offering an alternative to a bank cheque, the solution enables to carry out the transaction at any time providing security on it eliminating all risk of fraud.