Payment service Pago, which simplifies the management of bills and recurring services for users, has raised EUR 2.3 million on SeedBlink in one of the equity and investment platform's largest funding rounds to date.

A total of 225 private investors backed Pago in a round co-invested by Mozaik Investments, a private equity firm focused on supporting small and medium-sized enterprises (SMEs) in Central and Eastern Europe (CEE).

The company plans to use the funding to reach 6 million users in Romania with its services and expand internationally to five countries, including Italy, Poland, and the Czech Republic, in the coming years. The raised capital will also be used to improve Pago's app features and strengthen strategic partnerships with banks and partner applications.

While Romania remains a market with growth potential, Pago is already accelerating its international expansion. The app is active in Italy and Poland, markets chosen due to their similar technical infrastructure and organization to Romania. The company plans to improve the user experience, initiate local B2B integrations, and grow dedicated teams for each country.

"We are impressed and grateful for the investors' support and the rapid evolution of the funding round. The capital raised will help us accelerate growth in the coming years, both through new integrations in partner applications in Romania and by replicating our success here in 5 other countries where we are already present or plan to expand soon," Adrian Cighi, co-founder of Pago, said.

"Pago has understood that success comes from building a strong community, attracting over 220 investors through SeedBlink. We are proud to offer a platform that supports companies aiming for a public listing in the next 2-3 years," Eric Bartha, Head of Financial Services at SeedBlink, added.

Pago has over 500,000 active users in Romania.

The Pago team consists of 55 members, many of whom have been with the company since its inception.

The payment service allows users to pay utility bills to over 400 integrated providers, insurance, mobile top-ups, road tax, taxes, donations, and real-time money transfers. The app is available on Android and iOS.

(Photo: Pago.ro)

simona@romania-insider.com