Aufinity Group Secures €23 Million Funding for European Expansion in Automotive Payments

Aufinity Group secures €23 million in Series C funding to expand automotive payment solutions in Europe, focusing on partnerships with OEMs and enhancing digital payment experiences.

Aufinity Group, a rising star in the automotive payment management scene, has just secured a significant €23 million in a Series C funding round, primarily to fuel its expansion across Europe. Based in Cologne, this innovative FinTech company is set on striking new deals with Original Equipment Manufacturers (OEMs), all while bolstering its presence in the automotive sector. BlackFin Capital Partners leads the funding, with old hands, PayPal Ventures and Seaya, also returning to back the venture.

Lasse Diener, co-founder and CEO of Aufinity, shared his ambitions following this funding, stating, “With this round, we are focusing on accelerating our growth across Europe even further. Through new strategic partnerships with leading OEMs and by continuing our focus on dealerships, we are preparing to redefine the industry standard for the whole of Europe.” That’s quite a claim as he aims to revolutionize payment management in cars across various countries.

Diener noted that their core operations in Germany are thriving. But there’s more interest from international markets than they anticipated. “The high level of interest from the international market has prompted us to push ahead with our expansion into more countries earlier than planned,” he remarked. Founders Diener and Ulrich Schmidt started Aufinity back in 2018, focusing on automating payments through platforms like ‘bezahl.de’ for German-speaking users and “Aufinity” for broader markets.

Maxime Mandin from BlackFin Capital Partners is clearly impressed by Aufinity’s journey thus far. He commented, “We have been closely monitoring the company for a couple of years already and have been impressed by the execution skills of the team.” Mandin highlighted the recent overseas expansion as a compelling reason for investment, emphasizing the need to enhance Aufinity’s payment orchestration capabilities.

The company has also made strides in recent months, branching out to Madrid and Rome. In spring 2025, these new offices will specifically cater to the respective markets, showing Aufinity’s proactive approach to growth. PayPal Ventures’ Alexandros Bottenbruch noted the remarkable progress the Aufinity team made after their initial investment, pointing out the scaling of platform volume and successful entry into new territories like Iberia and Italy.

A key component of Aufinity’s offering is a highly adaptable digital payment management platform, designed for both dealers and OEMs. It enhances the payment process from the initial vehicle sale right through to after-sales services. By doing this, they’d ensure quicker payments and improved liquidity which inevitably makes for a better customer journey.

Aris Xenofontos from Seaya echoed the excitement, expressing enthusiasm in supporting the team through this growth phase. His firm has been eager to back this endeavor since seeing the demand rise in markets like Spain and Italy. As Aufinity forges ahead, eyes will be on their journey to reshape automotive payments across Europe, and indeed, the world.

Aufinity Group is making waves in the automotive payment sector with their recent €23 million funding success. Led by BlackFin Capital Partners with support from PayPal Ventures and Seaya, the company is on an ambitious track to expand across Europe, targeting strategic partnerships with OEMs and optimizing payment processes for dealers. With existing strong foundations in Germany, their expansion efforts are seen as both timely and promising. Staying tuned for how Aufinity will redefine industry standards in the coming years.

Original Source: www.eu-startups.com