Spanish buy now, pay later (BNPL) firm SeQura has landed a €150 million asset-backed financing agreement with US multinational Citi.
SeQura gains new financing
The new financing facility, which alongside existing financing partner Chenavari brings the total financing potential to up to €200 million, will support the firm’s expansion across southern Europe.
The funding will also be put towards the development and launch of new payment solutions, SeQura says, as well as allowing the firm to invest in “high-growth” initiatives designed to make the firm the go-to partner for merchants.
Based in Barcelona, SeQura has seen rapid growth while maintaining a “sustainable and profitable” business model, claiming an average growth rate of 100% per year over the last five years. The company is set for a €100 million revenue run-rate by the end of 2023.
