Twisto fintech startup, the leader of Czech online financing instruments (buy-now-pay-later), will launch operations in Romania to compete with Revolut, which entered the Romanian market last year, local Profit.ro reported.

Founded in 2013 in Prague, Twisto is a digital alternative to banking services. The company's online credit account for payments and purchases allows for deferred payment and payment at delivery. A partnership recently signed with WireCard offers customers the option of card payment and e-wristlet payment in stores.

The company has so far received funding in amount of EUR 20.5 million from investors such as ING Group, Uniqa, ENERN and MITON, according to Crunchbase data.The Czech startup expanded last year to Poland, and this year is preparing to enter the markets of Romania and Slovakia.

Twisto will compete in Romania with the British startup Revolut, which recently joined the “unicorn club” made up of private companies worth at least USD 1 billion. Revolut launched operations in Romania at the beginning of last year, and currently has over 100,000 users on the local market.

editor@romania-insider.com

(photo source: Facebook / Twisto.cz)