PayNest Fintech Ltd announced that it has received ?2 million in funding from BlueCrow Capital, Iberis Semper, Sociedade de Capital de Risco, S.A., Lince Capital, M4 Ventures, CTT - Correios De Portugal, S.A.
December 10, 2023
Share
PayNest Fintech Ltd announced that it has received ?2,000,000 in a round of funding led by new investor Lince Capital on December 11, 2023. The transaction also included participation from new investors BlueCrow Capital, M4 Ventures, CTT - Correios De Portugal, S.A. and TechTree fund; a fund managed by Iberis Semper, Sociedade de Capital de Risco, S.A. The company has raised ?2,500,000 in funding till date.
CTT-Correios de Portugal, S.A. is the Portuguese leader in postal services provision. Net sales break down by activity as follows:
- mail collection and delivery (50.4%): letters, postcards, ads, advertising documents, newspapers, etc.;
- express and parcels transportation and delivery services (40.2%): activity ensured in Portugal, Spain and Mozambique;
- sale of financial products and services (7.2%): public debt certificates, postal saving products, insurance and postal money orders;
- banking and payment services (2.2%): savings accounts, consumer credit (auto loans and credit cards), mortgage loans, off-balance sheet savings. The group also provides payment solutions (Payshop) allowing paying for purchases through the Internet and via certified agents (kiosks, tobacconists, supermarkets, etc.).
Portugal accounts for 69% of net sales.
PayNest Fintech Ltd announced that it has received ?2 million in funding from BlueCrow Capital, Iberis Semper, Sociedade de Capital de Risco, S.A., Lince Capital, M4 Ventures, CTT - Correios De Portugal, S.A.
CTT-CORREIOS DE PORTUGAL, S.A. 
