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Paynest bags €2 million investment

Source: Paynest

Paynest, the one-stop-shop financial well-being platform for employees, has successfully closed a €2 million seed investment round, led by Lince Capital, with participation from BlueCrow Capital, TechTree CTT managed by Iberis Capital, and M4 Ventures managed by C2 Capital.

This investment will allow the team to advance their product development efforts, to fortify the team, and to accelerate the company's planned expansion across Europe.

Founded in November 2022 by Nuno Pereira, who was later joined by Alexis Suberville, Paynest has already gained significant traction in Portugal, Greece, and France. The platform has been embraced by numerous employers and thousands of employees across various industries, prompting the company to intensify its efforts and capitalize on this momentum.

Nuno Pereira, co-founder and CEO of Paynest, expressed his pride in achieving this significant milestone, stating, “Even in a challenging global fundraising landscape, Paynest’s mission has resonated strongly with our investors. We are thrilled to have their support, and with this round, we are empowered to pursue our vision of enhancing the financial health of employees across Europe through a single, user-friendly platform.”

Tomás Lavin Peixe, Partner at Lince Capital, remarked, "We are excited about Paynest and the potential it represents. Aligned with our strategy of investing in Portuguese companies with exceptional teams and disruptive potential, Paynest’s proven products, coupled with its bold strategy, positioned it ideally to suceed in the European market. The dozens of companies that already use Paynest prove exactly that, and we hope the trend will be for more and more European companies to embrace the solution as a way of attracting and retaining talent.”

António Mello Campello, co-founder and Fund Manager of BlueCrow Capital, stated, "BlueCrow Capital is excited to announce our recent investment in Paynest. As investors dedicated to staying at the forefront of technological innovation, this investment perfectly aligns with our strategic focus on advancing technology-driven solutions ,reflecting our confidence in Paynest's ability to shape the future of payment technologies. We look forward to a collaborative journey, leveraging our expertise to support Paynest's growth and contribute to the evolution of the digital payment ecosystem.”

Nuno Matos, Director of Digital, New Channels, and Innovation at CTT, expressed excitement about the investment, stating, "This opportunity is a strong indication of CTT Group's commitment to the national startup ecosystem. We believe that Paynest has everything it takes to succeed in the wider European market and we want to contribute to its success. We are very aware of the important need of improving people's relationship with money and also with their employers. Today, it has become more important than ever for companies to offer benefits that truly promote the well-being of their employees, not only to increase productivity but also to retain the best talent. As with all investments we make, we also see an excellent opportunity to work together, which reinforces the ever-increasing importance that CTT attaches to the well-being of our own employees."

Luis Gutman, Managing Partner of M4 Ventures, added that "Paynest stands out for its remarkable product development potential and highly qualified founding team. The founder-market fit is evident, driving our decision to actively support its growth and expansion into the Brazilian market when the time comes."

Paynest is a financial platform that enables companies to differentiate themselves by offering a comprehensive suite of benefits that enhance the financial well-being of their employees. In addition to financial products, Paynest promotes financial literacy through personalized articles on personal finance management and provides a team of qualified coaches for confidential, individualized employee support.

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