Polish fintech PragmaGO, known for, among other things, handling deferred payments for Allegro's corporate customers, has bought a majority stake in Romanian company Telecredit. This enterprise has specialized in digital factoring for several years. It currently boasts a positive financial result. Last year, it recorded a net profit of around €350,000, with a turnover of €40 million. The value of the transaction in which PragmaGO acquired Telecredit was not disclosed.

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"In our view, Omnicredit is a strong and trustworthy strategic partner. The company has a target customer profile like ours, creates financial services based on digitized processes, and has strong operational and credit risk know-how. This is a good starting point for us to expand their portfolio and scale up their business rapidly. We will be implementing process and distribution solutions that are new to the Romanian market and already proven in our country", says Jacek Obrocki, Vice-President of PragmaGO.

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PragmaGO is a fintech that offers various services to help small and medium-sized companies obtain financing. Thanks to its partnership with Poland's most significant e-commerce player, Allegro, it became particularly well-known a few years ago. PragmaGO offers deferred payments for companies placing orders at allegro.pl. PragmaGO won the title of Fintech of the Year 2023, awarded during the sixth edition of the Cashless Fintech Evening.