PragmaGO enters Romanian market by acquiring 89% of Omnicredit

Polish PragmaGO acquired a 89% stake in Omnicredit from investment company Reconstruction Capital II Limited (RC2) and Elisa Rusu, for an initial consideration of EUR 5.785 million plus an earn-out of up to EUR 0.445 million.

PragmaGO provides financing to SMEs in the form of factoring and loans, mainly through embedded finance (BNPL and Merchant Cash Advance), services that are directly integrated into the ecosystem of partners (e.g. marketplaces).

In 2023, PragmaGO’s portfolio value exceeded EUR 70 million and the company had 17,000 (+25% y/y) active clients in Poland. At the end of the first half of the year, its turnover was PLN 1.15 billion, an increase of 25% year-on-year.

Omnicredit, which also provides non-bank financing to SMEs, has been growing for several years. its receivables portfolio amounted to EUR 6.4 million at the end of 2023 (+54% y/y).

The dynamic growth is followed by profitability – with a turnover of EUR 40 million (+40% y/y). In the first half of this year, Omnicredit has already achieved a turnover of EUR 28.5 million, representing growth of up to 90%.

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