What PastPay does

PastPay is a Central and Eastern European B2B Buy Now Pay Later (BNPL) fintech that operates a factoring-based payment platform enabling merchants to offer buyers flexible payment terms (15 to 90 days) while receiving 100% of the invoice value instantly. The platform serves two primary merchant segments — B2B eCommerce sellers integrating via API or webshop plugins (notably Shoprenter) and direct trade or multichannel sellers managing terms through the PastPay Portal — and targets enterprise buyers such as corporate customers of MediaMarkt Hungary, where PastPay is embedded as an in-store B2B BNPL payment option with 15, 30, 60, or 90-day terms. The service is offered across 11 currencies in markets including Hungary, Poland, the Czech Republic, Germany, the UK, and Italy.

The underlying technology combines a state-of-the-art API and pre-built webshop plugins with AI and machine learning capabilities for real-time buyer qualification (approximately 2-second decisions based on company tax ID), multi-layered fraud detection covering identity theft, phantom companies, account takeover, and first-party fraud, and KYB/KYC verification combining document analysis with photo checks. PastPay's credit assessment incorporates analysis of financial documents including cash books, tax flow accounts, audited statements, and bank records, and the system continuously monitors transaction patterns for anomaly detection. The regulated activity is conducted through Péntech Financial Solutions Zrt., which holds Hungarian National Bank (MNB) financial services activity license no. 32033906, allowing the group to operate across the EU.

PastPay generates revenue primarily through transaction fees charged to merchants, with publicly disclosed indicative pricing of approximately 1.5-2% of the invoice amount for 30-day terms, while buyers pay zero interest. The go-to-market combines a self-serve digital motion (website discovery, online contracting, 48-hour go-live) with sales-assisted engagement for larger merchants and channel partnerships such as the MediaMarkt Hungary retail integration. As of 2024, PastPay reports more than 170 active merchants, €12 million in Series A funding led by Platina Capital (cumulative funding of approximately €18 million since 2019), and the "Oscar of CEE Fintech" award from the 2024 UNCHAIN Fintech Festival.

Name

PastPay

Legal name

PastPay Europe sp. z o.o.

Website

https://pastpay.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

PastPay is a CEE-based B2B BNPL fintech that pays merchants 100% of invoice value instantly while offering buyers 15-90 day payment terms. It serves 170+ merchants across eCommerce and direct trade in 11 currencies via API, Shoprenter plugin, and a MediaMarkt Hungary in-store partnership.

Ownership category

akta.pro rank

Product category

B2B Payments / B2B Buy Now Pay Later

NAICS

Sales Financing (52222)

akta.pro primary industry

B2B / Invoice-Based BNPL (Trade Credit at Checkout) (FSAGAIAC)

akta.pro secondary industries

Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)

Keywords

• B2B buy now pay later
• Invoice factoring
• Payment processing
• Merchant cash advance
• Embedded payment API

Headquarters

HQ city

Budapest

HQ country

Hungary

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Transaction / Take Rate Fees: PastPay charges merchants a transaction fee (expressed as a percentage of the invoice amount) for each BNPL transaction processed. This is the primary revenue stream. For a 30-day payment term, costs are approximately 1.5-2% of the invoice amount. The buyer pays zero interest — the cost is borne entirely by the merchant.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

PastPay operates a B2B Buy Now Pay Later (BNPL) platform on a factoring basis: the company pays merchants 100% of the invoice value instantly after a buyer purchase and then collects from the buyer over extended terms of 15–90 days. Merchants integrate via webshop plugins (e.g., Shoprenter) or a state-of-the-art API, and can also manage direct-trade B2B sales through the PastPay Portal. Pricing is a merchant-borne transaction fee (approximately 1.5–2% for 30-day terms), with buyers paying zero interest.

Product overview

PastPay operates as a B2B Buy Now Pay Later (BNPL) platform providing a hybrid payment solution across multiple sales channels. The core product is the PastPay B2B BNPL service, which includes two main delivery channels: B2B BNPL for eCommerce (supporting digital merchants via webshop and API integrations) and B2B BNPL for Multichannel Sales (supporting direct trade and traditional channels through the PastPay Portal). Additional modules include a MediaMarkt-specific client solution and a buyer-facing payment option. The platform's key differentiators include instant merchant payment (within 24 hours), automated credit assessment, multi-layered fraud prevention using AI and ML, and support for 11 currencies across Europe. PastPay functions as a factoring-based BNPL provider where merchants receive immediate payment while buyers enjoy extended payment terms of 15-90 days.

Differentiator

Problem solved

Functional benefit

Products and services

• PastPay B2B BNPL Core B2B Buy Now Pay Later service that pays merchants 100% of invoice value instantly after a buyer purchase, then collects from buyers over flexible terms of 15–90 days. Includes AI-driven 2-second buyer qualification, fraud prevention, KYB/KYC, and outsourced collections. Buyers pay zero interest; merchants pay a transaction fee (approximately 1.5–2% for 30-day terms).
• B2B BNPL for eCommerce B2B BNPL payment option for online B2B merchants, integrated into webshop checkout via pre-built plugins (Shoprenter and others) or custom API. Enables business buyers to pay later at checkout while merchants receive instant settlement.
• B2B BNPL for Multichannel Sales B2B BNPL for offline and direct-trade sales, enabling merchants to offer 15–90 day payment terms to buyers across phone, email, and in-person channels, with all payment management handled via the PastPay Portal.
• PastPay Portal Central management platform where merchants track B2B BNPL transactions, invoices, payment statuses, and collections across eCommerce and direct-trade channels from a single interface.
• MediaMarkt B2B BNPL (Hungary) B2B BNPL payment option embedded in MediaMarkt Hungary's in-store experience, enabling corporate customers to purchase equipment with 15/30/60/90-day payment terms, with PastPay handling eligibility, identification, invoicing, and collections.
• B2B BNPL for Buyers Buyer-side payment option enabling B2B buyers to purchase inventory on 15–90-day extended terms with zero interest, improving liquidity and purchasing power while sellers are paid instantly.

Quantifiable outcome

• Average B2B sales growth of 15–20% for merchants adopting PastPay
• +5 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature6 records

Partnerships

Three partnerships are on record, tiered core and flagship.

• MBH BankcoreStrategic or Co-development PartnerMBH Bank is featured alongside Allianz as a key banking partner in PastPay's ecosystem, providing the financial infrastructure (bank account, IBAN) through which PastPay settles payments with merchants and collects from buyers.
• AllianzcoreStrategic or Co-development PartnerAllianz is featured alongside MBH Bank as a key insurance/banking partner in PastPay's ecosystem, contributing to the 'Innovation meets highest banking standards' positioning.
• MediaMarkt HungaryflagshipChannel Partner/ Reseller/ DistributorPastPay is embedded as the exclusive B2B BNPL payment option at MediaMarkt Hungary, enabling corporate customers to purchase equipment in-store with 15, 30, 60, or 90-day payment terms. PastPay handles buyer eligibility verification, customer identification, invoicing, and collections.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Billie: Berlin-based B2B BNPL provider serving European SMBs and enterprises with buy-now-pay-later solutions at checkout. Directly comparable to PastPay in product offering, factoring model, and target market of European B2B merchants.
• TreviPay: Global B2B payment and BNPL platform focused on extending trade credit to business buyers. Comparable to PastPay through its B2B invoice-based financing model and merchant integration approach.
• Capchase: B2B BNPL platform providing revenue-based financing to SaaS and subscription businesses. Comparable to PastPay in offering B2B deferred payment solutions with factoring-style mechanics.
• Clearco: B2B BNPL provider offering revenue-based financing to eCommerce and SaaS companies. Comparable to PastPay through factoring-style mechanics that allow businesses to receive upfront payment while deferring buyer obligations.
• Ratepay: Berlin-based BNPL provider for online merchants offering white-label payment solutions. Comparable to PastPay through merchant-integrated BNPL offerings and European market focus.
• Sana (formerly Compeon): European SMB financing marketplace offering business loans and credit products to SMEs. Comparable to PastPay in serving the SME buyer segment with embedded credit at point of sale.

Others

• MBH Bank: Hungarian banking partner that provides financial infrastructure for PastPay's settlement flows. Comparable as both a partnership dependency and as a potential competitor offering traditional trade finance products to the same merchant base.

Broad incumbents

• iwoca: UK-based SMB lender offering flexible credit lines and short-term business loans. Comparable to PastPay in serving European SMBs with embedded credit decisions, though focused on direct lending rather than BNPL.
• Funding Circle: Publicly listed SMB lending marketplace operating across Europe. Comparable to PastPay in serving the SME credit market with technology-enabled underwriting, though focused on term loans rather than invoice-based BNPL.
• Klarna: Global BNPL giant that has begun expanding into B2B use cases. Comparable to PastPay through BNPL mechanics and merchant integrations, though primarily B2C-focused with substantially larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@PastPayBNPL
• Facebookfacebook.com/pastpaybnpl
• LinkedInlinkedin.com/company/pastpay

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds7 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PastPay