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Australia's Zip invests in Czech BNPL player Twisto

Australia's Zip invests in Czech BNPL player Twisto

Czech buy now, pay later app Twisto has raised €16 million in a funding round led by Australian BNPL player Zip and Elevator ventures.

Several existing Twisto investors also participated including Finch Capital, Velocity Capital, ING Bank, and the Austrian insurance conglomerate Uniq.

Connected to Mastercard, Twisto uses an inhouse developed scoring engine to enable qualified customers to pay for their online purchases with just one click, deal with bills and invoices by taking a photo of them within the app and pay just about anywhere else with the card or an NFC payment bracelet.

Launched in 2013, the firm has attracted 1.6 million customers in the Czech Republic and Poland, and intends to use the funds to further its expansion across the continent.

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