[Sofia, February 16] – – New Vision 3 (NV3), a leading venture capital firm, is thrilled to announce a significant investment in Prolaz, a pioneering company in the field of multi-acquiring Point of Sale (PoS) transaction processing. NV3 has committed to invest up to 1 million in two tranches and the remaining funding is provided by a group of private co-investors. This investment reflects NV3's commitment to supporting innovative solutions that revolutionize industry standards and enhance operational efficiency.
Prolaz is set to redefine the PoS transaction acquiring with its unique B2B solution, enabling retail merchants with multiple partner banks to process payments using a single shared POS device while maintaining existing bank acquiring agreements. This innovative approach not only streamlines transaction processing at the cash desk but also offers substantial benefits to all stakeholders involved. The opportunity to upsell at the “point of sale” is enormous. Merchants can expect reduced transaction costs and increased automation while gaining control and valuable analytical data from their payment processing. Banks, on the other hand, stand to reduce their operational expenditure (OPEX) and improve profitability using existing merchant agreements while maintaining full control of direct acquiring relationships with merchants.
Prolaz has already demonstrated its market potential by securing partnerships with some of the largest banks and merchants in the region, and by processing more than €400 million in payments volume per year to date. This traction underscores the company's readiness to lead and expand in the PoS transaction processing sector throughout Europe.
Jordan Stoyanov, Lead Partner at NV3, commented on the investment: "We are excited to back Prolaz in their journey to innovate the PoS transaction processing industry. Their solution presents a win-win-win scenario for merchants, banks, and consumers alike, not to mention the opportunity to provide additional value-added services at the “point of sale”. This investment aligns perfectly with NV3's vision of supporting technologies that not only drive business efficiency but also pave the way for future advancements in the financial sector."
“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,” said John Jager, Executive Director of Prolaz Bulgaria. “The benefits of multi-acquirer processing exist in all European countries and are only now beginning to be recognized. At the same time, new hardware is enabling additional value-added software to co-exist with multi-acquiring payment applications. We are now positioned well to capitalize on these trends,” concludes Jager.
About NV3
NV3 is a venture capital firm that champions the disruptive potential of technology and innovation. By investing in startups and growth-stage companies with the vision to be the preferred partner to entrepreneurs who add value to the Bulgarian and regional economies. The fund supports founders in creating future industry trends in FinTech, AI, Blockchain, and Shared Economy.
For more information about NV3 and our investment approach, visit www.newvision3.com
About Prolaz:
Prolaz is among the first independent providers of an innovative multi-acquiring PoS solution in Eastern Europe and is the first one that successfully enter the Bulgarian market in 2022. The FinTech company is already partners with 10 of the largest banks in SEE to offer merchants innovative and flexible new payment solutions. The company supports banks and merchants by enabling faster time to market for new checkout products while reducing non-cash payment costs.
For more information, please visit: https://www.prolaz.hr/