NX Technologies, a Cologne, Germany-based fintech company that operates the automotive payment management platform bezahl.de, raised €22M in Series B funding.
The round was led by PayPal Ventures, with participation from Seaya Ventures, Walter Ventures and existing investor Motive Ventures
The company intends to use the funds to strengthen its market position in Germany, expand into new European markets, and grow its platform.
Founded in 2018 by Lasse Diener and Ulrich Schmidt, NX Technologies specilaizes in digital payment management with its main product “bezahl.de”. bezahl.de allows its customers to handle the entire receivables process in a straightforward way, shortening the order-to-cash timeframe and minimizing accounting and back-office resources. The platform offers a modern payment experience for customers of dealerships and other automotive providers, with numerous payment methods and embedded financing options. More than 70 percent of the top 100 automotive retail groups and over 1,000 car dealerships in Germany rely on bezahl.de to manage payments for their businesses.
The team of now more than 130 employees is continuously optimizing the bezahl.de product to create a new standard for digital payment management in Europe.
Commenting on the news, Lasse Diener said: “We are thrilled to have successfully closed our series B financing round. Our payment management platform bezahl.de has created a new standard for payment management in the auto industry, and I am proud of the entire NXT team for the dedication and hard work that has allowed us to reach this exciting milestone. I look forward to our continued future growth alongside our new and existing investors.”
FinSMEs
21/03/2024