SeQura receives up to €150M of financing from Citi and further secures its continued growth
SeQura the leading BNPL and flexible payments platform in Spain and southern Europe, closed an asset-backed agreement with Citi of up to €150m of senior financing. Existing financing partner Chenavari, a specialized credit investor based in London, continues its support for SeQura, bringing the total financing potential up to €200m.
This new facility will increase the company's overall funding capacity and support SeQura's international expansion across Southern Europe, as well as the development and launch of new, innovative payment solutions. The new agreement significantly reduces SeQura's funding cost and will allow SeQura to further its investment into strategic and high-growth initiatives to support our mission of being the preferred partner to the merchants.
"We are delighted to enter into a new financing with Citi, one of the largest and most renowned banks in the world, which will support our focus on building a sustainable business model and enables us to continue to bring innovative payment solutions for both merchants and shoppers." Markus Jennemyr, CFO of SeQura
In contrast with most venture capital-funded fintechs and payment startups worldwide, SeQura has proven to have a sustainable and profitable business model in the BNPL and flexible payments space. The company, which was bootstrapped until the end of 2021, has rapidly grown at an average of 100% per year over the last 5 years and is forecasting a €100m revenue run-rate by the end of 2023.
The company's mission to be the best partner for merchants' growth, becomes even more relevant in the present economic context, where consumers' diminished disposable income is slowing down e-commerce growth "One size-fits-all BNPL solutions are not enough in this market, merchants, and shoppers, need a diverse set of flexible payment solutions tailored to their sector and business. Our products look beyond the checkout and cover key touchpoints of the customer journey to further optimize merchants' conversion rates and buying recurrence." adds Markus Jennemyr.