Fintech NX Technologies concludes Series A financing of 11 million euros
- Fintech strengthens its position as Germany's leading provider of payment management in the automotive sector with financing round
- Motive Partners is lead investor, business angels and family offices are increasing
- Use of funds to expand the platform, prepare for expansion into other regions and expand the team, among other things
The Cologne-based fintech NX Technologies, specialist for digital payment processes in the automotive sector and Provider of the payment management platform bezahl.de, announces the successful completion of its Series A financing of 11 million euros. The lead investor is Motive Partners, through their venture capital platform, Motive Ventures. Family offices and business angels are also involved, including Rolf Christof Dienst with Wessel Management and Ingo Weber with Carcharodon Capital, who are once again investing in the Cologne-based start-up.
Michael Hock, Head of Portfolio Management at Motive Ventures, comments:”The impressive growth since the seed round, combined with the team's strong payment know-how and deep industry expertise, are the reasons why bezahl.de was able to secure such an important Series A round despite the current market environment. We are confident that the company has a bright future ahead of it, not only because of expanding its product offering to include a comprehensive embedded finance suite. ”
The core product of NX Technologies, bezahl.de, automates, digitizes and simplifies the entire process from payment request to posting in the financial accounting system. With a market share of around 60% among the 100 largest automotive retail groups, the platform is already an industry standard with its holistic and vertical solution approach. The financing round strengthens NX Technologies' position as the largest provider of modern payment management in the German market, which achieves annual sales of almost 200 billion euros.
Despite a difficult market environment, the past year was a successful one for NX Technologies. The company has grown from 60 employees at the beginning of 2022 to now over 100 employees, and over 4 billion euros of transaction volume were processed via the payment management platform bezahl.de. In addition, the fintech has expanded its offerings in the embedded finance sector to include features such as “Buy Now, Pay Later.”
“We would like to take this opportunity to thank our first-class investors for their support and trust. Current challenges focus on the need to digitize internal processes in the automotive trade. With the funds, we will create a new standard for automated payment management in the European automotive market and focus on expanding embedded finance offerings. “, says Lasse Diener, CEO & Co-Founder of NX Technologies.
In addition to hiring new employees, NX Technologies is using the funds from the financing round primarily to expand its bezahl.de platform by integrating further embedded finance solutions. The company is also preparing to expand into other regions.
About NX Technologies
NX Technologies GmbH is a specialist in innovative payment solutions. In 2018, the FinTech start-up based in Cologne was founded by Lasse Diener and Ulrich Schmidt with the mission to redefine payment management in the automotive sector — and other vertical markets in the near future.
With its main product bezahl.de, the young company, with a market share of around 60% in the top 100 segment of German automotive retail, has already become the leading partner for modern payment management. The team of now 100+ employees is continuously optimizing the bezahl.de product to create a new standard for digital payment management in Europe.
