Bulgaria's NV3 to invest up to 1 mln euro in Croatian fintech Prolaz

The funding will be deployed in two tranches, with an additional 300,000 euro to be provided by a group of private co-investors, NV3 said in a statement on Friday.

"This funding represents the next step in our plans to aggressively expand into multiple new EU countries while scaling up our business infrastructure to support the additional growth," Prolaz Bulgaria CEO John Jager said.

The fintech allows retail merchants with multiple partner banks to process payments using a single shared POS device while upholding existing bank acquiring agreements.

Prolaz, founded in 2012, has partnered with ten of the largest banks in Southeast Europe. The company entered the Bulgarian market in 2022.

NV3 invests in startups and growth-stage companies in the fintech, AI, blockchain and shared economy sectors.

($ = 0.9287 euro)