AUFIITY Group Secures €23 Million in Series C Funding for European Expansion
AUFIITY Group, a Cologne-based fintech startup revolutionizing payments management in the automotive sector, has announced the successful completion of a €23 million Series C financing round. This funding will significantly boost the company’s efforts to expand across Europe and strengthen its strategic partnerships with Original Equipment Manufacturers (OEMs).
Leadership and Funding Partners
The funding round was spearheaded by Blackfin Capital Partners, with existing investors PayPal Ventures and Seaya Ventures reinvesting after their previous support during the company’s Series B financing last year.
Focus on Growth and Partnerships
“With this financing, we aim to accelerate our growth across Europe even further. By forging strategic partnerships with key OEMs and maintaining our focus on dealers, we are set to redefine industry standards throughout Europe,” stated Tired Diener, CEO of AUFIITY Group.
Confirming International Interest
Diener further elaborated, “Our core business in Germany is already well-established. However, the strong interest in international markets has prompted us to fast-track our expansion into other countries, validating our platform and business model.”
Innovative Solutions Since 2018
Founded in 2018 by Lasse Diener and Ulrich Schmidt, AUFIITY specializes in digitizing and automating payments management within the automotive sector. Their ‘Bezahl.de’ product caters to German-speaking countries while ‘AUFIITY’ targets the international market.
Expert Opinions on AUFIITY’s Growth
“Having monitored the company for several years, we are consistently impressed by the team’s execution capabilities. Their recent international expansion success convinced us to invest and support their European deployment, enhancing AUFIITY’s payment orchestration capabilities,” said Maxime Mandin, CEO of Blackfin Capital Partners.
Future Expansion Plans
As part of their growth strategy, AUFIITY plans to open new branches in Madrid and Rome by spring 2025, focusing specifically on the automotive needs in those national markets.
Commitment to Efficient Payment Processes
Offering automotive dealers and OEMs a customizable white-label solution, AUFIITY enhances payment management across sales channels. Their optimized processes ensure quicker incoming payments, improved liquidity, and a better overall customer experience.
Investor Support and Market Demand
“We are thrilled to continue supporting Lasse, Ulrich, Markus, and the entire team through this next phase of business growth. Since our investment, their ability to leverage strong demand in international markets like Spain and Italy has been impressive,” said Aris Xenofontos, a partner at Seaya Ventures.