Hungarian-based startup Barion secures $2.3 million to expand internationally

Barion Payment, a leading Hungarian fintech startup, has landed $2.3 million in Series B funding round. The round was led by European private equity firm Financial Services Capital. Barion Payment has raised a total of $5.3 million in funding over 4 rounds, Crunchbase reports.

Founded in 2015 by Tamás Bíró and Sándor Kiss, Barion Payment offers online shops a quick, cheap, and simple payment platform, a competitive alternative to PayPal. Originally a spin-off company of what was an IT-oriented SME at the time, Sense/Net, it has taken only a few years for this Hungarian start-up to become more successful than its mother company. Since its launch, the startup has achieved successful growth and currently serves more than 7000 merchants in Austria, Czechia, Hungary, Germany, and Slovakia.

The new funding will be used on further expansion in Europe. The company wants to bring to market innovative payment products and services. To date, Barion is currently available in five languages and four different currencies – euro, US dollar, Hungarian forint, and Czech crowns.

Into account, Financial Services Capital is a European private equity firm with a presence in London, Prague, Madrid, Vienna, and Luxembourg. They are focus on changing the European financial services sector from within.