cashpresso, a Vienna, Austria-based provider of a mobile revolving credit line, raised €2m in funding.
Backers included new investors Reimann Investors and Dieter von Holtzbrinck Ventures as well as existing investors Speedinvest, Hansi Hansmann and Runtastic founders.
The company intends to use the funds to continue to grow operations, e-commerce intergration and launch its cashpresso credit card.
Led by Daniel Strieder, CEO, Michael Handler and Jörg Skornschek, cashpresso offers flexible frame loans under the “cashpresso” brand (powered by Deutsche Handelsbank – a trademark of Deutsche Kontor Privatbank AG). The application is processed completely online and allows the payment of €1.500 credit line within 10 minutes.
The financing solution will be integrated within online stores as well as launch the credit card.