Investors increase stake in PAIR Finance – Annual growth of 200 percent continues
- Record growth, profitability and convincing business figures basis for investment – well equipped for strategic projects in 2020/2021
- Capital investment employed to further expand new strategic areas of growth
- Existing investors finleap, Zalando and Yabeo invest further millions in the future of AI-based debt collection
Berlin, July 6th 2020 – Record growth for PAIR Finance: In the AI-based Fintech for debt collection and receivables management profitability and growth go hand in hand. PAIR Finance GmbH has been able to increase its sales by more than 200 percent annually since 2016 and continues this trend significantly this year. At the same time, PAIR Finance has already crossed the profitability threshold in 2019, only three and a half years after its launch. The team has also grown continuously to over 80 employees to date.
Thanks to the profits generated in recent quarters, PAIR Finance will continue to pursue its ambitious growth path and implement its strategic projects as planned in 2020/2021. Currently, more than 250 companies work with PAIR Finance, for whom the customer is also the main focus in receivables management, including companies such as Klarna, Zalando, Sixt, Grover or the Jochen Schweizer mydays Group.
Due to the strong growth, the existing investors want to continue to participate in the company’s success and have increased their shares to the value of 2 million euros. Existing investors finleap, Europe’s leading Fintech ecosystem, Zalando, Europe’s leading online platform for fashion and lifestyle, and the venture capital company Yabeo are participating in the capital increase. Ex-Deutsche Bank PFK board member Ralph Mueller will join as a further supporter, as well.
Founded in 2016, PAIR Finance was the first financial technology company to offer digital debt collection services based on artificial intelligence. Since then, PAIR Finance’s data-driven debt collection platform has disrupted a traditional debt collection industry by helping companies to collect outstanding receivables more efficiently and in a more customer-oriented way, compared to traditional methods.
We are delighted about the commitment of our first-class investors and proud of the development PAIR Finance has taken over the past years, not least due to the fantastic work of our team. The new capital will further strengthen our innovation leadership in the market and ensure that we maintain our growth rate.
Stephan Stricker, Founder and CEO of PAIR Finance
Ramin Niroumand, founder and CEO of finleap: « We are impressed by PAIR Finance’s growth and innovation in the debt collection market and are 100% convinced by the company’s unique business model. With this new round of financing we want to enable the team to build on the existing success and play an even more important role in replacing traditional debt collection services in Germany and beyond. PAIR Finance is already one of the guarantors of success in our finleap ecosystem. »
Ralph Müller, Fintech investor and long-standing board member of Postbank/Deutsche Bank PFK: « We are currently experiencing a fundamental structural change in the financial industry. PAIR Finance is playing a decisive role in the market for receivables management and, with its new AI technology combined with clear customer orientation, is creating a real upheaval. I am very much looking forward to working together and to supporting new strategic projects and the sustainable success of the company. »
Dr. Gerrit Seidel, Managing Director of Yabeo continues: « We believed in PAIR Finance from the very beginning and especially in the management team. Digital business is irreversibly on the rise. More than ever before, business partners like PAIR Finance are needed to redefine industry rules based on state-of-the-art technology. »
With the capital increase PAIR Finance will in particular invest in the development of new products along the value chain and further expand the technological collection platform and its AI algorithms.
Press image material can be found at:
https://pairfinance.smugmug.com/PAIR-Finance-funding-round-2020/n-wqFtHz/
