- EBRD lends €5 million to Polish fintech factoring company PragmaGO
- Firm provides innovative online financing models for local businesses
- First transaction under the EBRD’s Digital Approach in Poland
The European Bank for Reconstruction and Development (EBRD) is promoting the competitiveness and resilience of small and medium-sized enterprises (SMEs) in Poland by supporting the operations of leading independent factoring company PragmaGO.
The loan of €5 million is the first transaction in Poland under the Bank’s Digital Approach, designed to introduce innovative digital solutions for businesses. It will help PragmaGO offer its cost-efficient financing tools to a greater number of Polish SMEs, regardless of their size or location.
Compared with traditional factoring, PragmaGO’s online invoice-based financing solutions and purchase financing options are particularly valuable to smaller businesses facing challenges in accessing funding.
PragmaGO is a well-established player in the Polish market, with more than 25 years of experience. It is owned by Enterprise Investors, one of central and eastern Europe’s largest private equity firms. It offers user-friendly digital solutions designed to help SMEs manage their liquidity more efficiently.
Jacek Obrocki, Vice President of PragmaGO, said: “Our goal is to deliver fast and easily accessible financing solutions to SMEs. We are honoured that the EBRD is supporting our mission. We will use the proceeds to support small companies keen on developing inclusive and environmentally conscious businesses. Together with the EBRD, we will contribute to strengthening the SME sector in Poland.”
Elisabetta Falcetti, EBRD Regional Director for Central Europe and the Baltic States, said: “Enhancing the competitiveness of companies and SMEs through innovation and digital solutions is at the core of the EBRD’s strategy in Poland. I am very pleased to see this first investment under the EBRD Digital Approach in the country.”
Since the start of its operations in Poland over 30 years ago, the EBRD has invested more than €11.7 billion in about 480 projects.