TLDR:
- NX Technologies, a FinTech company, raised €22 million in Series B funding led by PayPal Ventures.
- They plan to strengthen their market position in Germany, expand into new markets, and accelerate the growth of their platform.
NX Technologies, a FinTech company that operates the automotive payment management platform bezahl.de, has secured €22 million in Series B funding led by PayPal Ventures. This funding will be used to bolster their market presence in Germany, enter new markets across Europe, and speed up the growth of their payment management platform. The CEO and Co-Founder of NX Technologies expressed excitement over the successful financing round and highlighted the platform’s benefits in simplifying payment management in the automotive industry.
bezahl.de, the core product of NX Technologies, offers a streamlined payment management process for automotive businesses, reducing the order-to-cash timeframe and cutting down on accounting resources. The platform provides customers of dealerships and automotive providers with a modern payment experience, multiple payment methods, and financing options. Leading automotive retail groups and car dealerships in Germany rely on bezahl.de for their payment management needs.
PayPal Ventures, an investor in NX Technologies, praised the company’s innovative payments solution that bridges the gap between digital showrooms and manual back-office processes in the automotive sector. The investment firm believes that NX Technologies is well-positioned to capture more market share in Europe. NX Technologies plans to use the funding to enhance its digital platform, expand into embedded finance, and introduce products like automotive loans and insurance.
