Wealthon, a Polish fintech offering tools and innovative financing solutions for SMEs, has raised PLN 12 million from the 4growth VC fund in co-investment with the NCBR Investment Fund. Additionally, the company secured PLN 20 million in debt financing from funds managed by CVI Dom Maklerski. The funds will be used to further accelerate product development and strengthen the company’s market position.

“This investment is a vote of confidence in our strategy and growth potential. We believe it will help us respond even better to market needs and pursue our development goals. We are preparing to launch new payment solutions that will complement our ecosystem for entrepreneurs. We aim to offer the most innovative product suite for businesses in Poland,” said Aleksander Majchrzak, CEO of Wealthon.

Wealthon was established in response to the financial challenges faced by small and medium-sized enterprises. Although SMEs make up over 99% of all businesses in Poland, they often struggle to access financing.

“From the very beginning, we have aimed to democratize access to capital for SMEs. Our mission is to level the playing field in business and ensure that access to financing is not reserved only for large companies or corporations,” added Aleksander Przetakiewicz, co-founder of Wealthon.

With SMEs in mind, Wealthon created POSCASH, a financing solution based on payment terminal turnover. By analyzing a client’s real-time cash flow, the company can effectively manage risk and calculate loan amounts (up to PLN 500,000). Furthermore, the process is fully automated and free from bureaucracy, with flexible repayments that adjust to the enterprise’s capabilities.

The potential of Wealthon was recognized by 4growth VC, a fund specializing in fintech and insurtech investments, which has previously backed companies such as Cashy, Laven, and Plenti.

“Wealthon operates in the vast market of micro and small enterprises, which often lack sufficient access to financing despite having high needs. Their innovative solution and repayment mechanism based on terminal revenues have enabled the creation of a high-quality loan portfolio. CVI’s investment is a testament to that. Combined with an experienced and committed team, Wealthon became an attractive investment for us,” said Marcin Jaszczuk, Managing Partner at 4growth VC.

NCBR Investment Fund (NIF), which focuses on investing in small and medium enterprises, also participated in the co-investment.

“In just five years, Wealthon managed to develop a forward-looking project and successfully bring it to market. These are exactly the types of investments we look for—young, innovative startups focused on commercialization and profitability. We’re confident that supporting the company was the right decision,” said Ksenia Wójcik-Karasiewicz, CEO of the NCBR Investment Fund.

About Wealthon

Wealthon was founded in 2018 by Aleksander Majchrzak and Aleksander Przetakiewicz. In addition to POSCASH, the company also develops other tools for businesses. Wealthon WALLET, a mobile financial management wallet licensed by Mastercard, allows users to manage company finances and make cashless payments from anywhere, at any time. The app also provides instant access to a credit limit (up to PLN 20,000), with the entire funding process taking just 7 minutes—making it the first solution of its kind for companies on the Polish market.

Another tool in Wealthon’s ecosystem is Wealthon POS, a platform combining restaurant management and sales assistance in one. It was introduced following Wealthon’s acquisition of Ristorio in August 2023. The company is currently focusing on integrating this tool with its other products and expanding its functionality for other economic sectors.

The company’s long-term strategy includes international expansion. A key element for scaling abroad is obtaining a National Payment Institution license, which Wealthon has already applied for.

FindAir, European smart inhaler market leader, which is revolutionizing the treatment of asthma and COPD, has closed a seed funding round. The company will use the funds raised from 4growth VC and NCBR Investment Fund for further product research and development and scaling sales in the US, where 40 percent of its revenues already come from today.

Plenti offers electronic devices in a circular economy model, enabling access to the latest devices on demand, without forcing users to own them. The company offers a subscription model, from 1 up to 12 months, allowing users to only pay for the usage of their gear. Plenti has raised €5 million in a late Seed round led by 4growth VC, with the participation of Montis Capital and NIF, and other investors. The funding will help the company develop the supply-side partnership program that enables Plenti to grow faster while remaining asset-light. Plenti also plans to strengthen its position in Poland, and prepare the company for European expansion next year.

WARSAW, July 21, 2022 – Polish startup Talkie.ai, which offers Artificial Intelligence solutions for customer service automation, has raised USD 2.6 million (PLN 12.5 million) from a Polish-Austrian consortium of VC funds. Talkie.ai will use the funds to further specialize in creating technology for healthcare industries and to expand its customer base in the United States, from where more than 20 percent of Talkie.ai’s customers already come. Supporting healthcare industries with specialized off-the-shelf solutions is driving Talkie’s next phase of operations.

Laven provides access to medical technologies, the use of which is associated with costs exceeding even one million zlotys. This is a novelty on the health insurance market in Poland. Thanks to the new financing, the company will increase the scale of its operations to gain over 100,000 insured annually in the coming years. The financing is organized by the 4growth VC fund. This investment round was also attended by several business angels related to the insurance industry. 

The Polish med-tech Saventic Health has developed and tested in practice artificial intelligence algorithms that support physicians in diagnosing rare (hidden) diseases. The company has just raised US$ 2.2 million (PLN 10 million) for further development, including international expansion. The leader of this financing round is Warsaw based 4growth VC fund  with NCBiR Investment Fund as the co-investor.

Co-Investments in Innovative Tech Projects in Finance and Insurance Sectors – the Main Goal of the New Partnership Between NIF and 4growth VC

Co-investments in innovative technological projects in the financial and insurance sectors are the main objective of the new collaboration initiated between NCBR Investment Fund ASI S.A. (NIF) and 4growth VC. The two parties have signed a partnership agreement and plan to pursue joint investments.

“We are continuously expanding our network of strategic Investment Partners to leverage shared experiences and reach new, promising and future-oriented areas of the economy. The partnership with 4growth VC opens excellent investment opportunities in the financial and insurance sectors, both of which hold tremendous potential for growth through new technologies and the digitalization of services,” said Krzysztof Szubert, CEO of NIF.

“The combination of private capital, represented by a fund like 4growth VC, and the resources of NCBR Investment Fund as a co-investor, will undoubtedly accelerate the development of many Polish startups. Diversifying funding sources increases our investment potential as a VC fund and thereby contributes to the further development of the fintech and insurtech sectors in Poland,” said Marcin Jaszczuk, Managing Partner at 4growth VC.

In the past year, NIF has signed numerous important agreements with both Polish and international Investment Partners, including: Enea Innowacje, BrigdeOne, PGE Ventures, Change Ventures, Aria, Vinci Capital, Fidiasz, EIT InnoEnergy, and Akesto Investment Holding. Now, 4growth VC joins this group. In the near future, NIF and its Investment Partners will focus primarily on joint investments in companies that are in the growth or expansion stage.

NIF is a co-investment venture capital fund established by the National Centre for Research and Development (NCBR). The fund specializes in investing in small and medium-sized enterprises (SMEs) that are in the growth or expansion phase and are commercializing the results of R&D&I activities. The fund’s investment budget is PLN 700 million. The value of a single investment from NIF ranges from PLN 3 million to PLN 64 million.

Cashy has raised PLN 2 million in funding to accelerate the commercialization of its platform, which enables large companies to generate profits through supply chain financing (known as dynamic discounting). The financing round was led by 4growth VC, a fund established by financial sector veterans Krzysztof Bachta, Tomasz Biłous, Marcin Jaszczuk, and Marek Szcześniak.

“We’re thrilled to have the backing of managers with such extensive experience, along with a wide network of private investors. We count on their know-how and support in reaching clients and partners. This funding will allow us to further develop our platform and expand our service offering. We’ve set ambitious goals: by the end of this year, we aim to accelerate invoice settlements for our clients in the amount of at least PLN 30 million,” said Jakub Wrede, co-founder and CEO of Cashy.

“Working with new investors will help us build business relationships and speed up the commercialization of our platform. In the near term, we’ll be strengthening our sales team, which will certainly help us acquire more clients,” added Edyta Musielak, co-founder of Cashy.

Cashy offers a B2B solution that streamlines financial relationships with suppliers. Large companies can monetize their financial surpluses or unused credit limits by offering their suppliers faster invoice payments in exchange for a small discount fee.

Cashy’s solution addresses the needs of businesses seeking attractive ways to utilize idle funds, while also supporting smaller companies with liquidity management by providing them with access to additional financing from their customers. The accelerated invoice payments are funded either through surplus cash or unused credit limits, which often have interest rates up to 10 times lower than the financing costs typically available to small and medium-sized suppliers. Cashy’s clients are medium and large companies with a dispersed network of suppliers.

“Our model is based on a win-win principle: the buyer pays earlier, so they pay less, and suppliers gain access to a new, attractive source of financing without the formalities that usually come with services like factoring. What’s more, thanks to our proprietary process, everything happens online, with just a few clicks in the app and no need for corrective invoices,” explained Jakub Wrede.

“Fintech startups like Cashy are a natural investment direction for us. Thanks to our years of experience in the banking and insurance sectors, we can offer more than just financing—we provide strategic value by sharing our know-how and supporting the company in building business relationships and commercializing the product. We plan to continue investing in promising growth-stage startups,” said Krzysztof Bachta, Managing Partner at 4growth VC.

Cashy was founded in 2018 by Jakub Wrede, Edyta Musielak, and Kamil Pachuta, who previously gained experience in trade finance at institutions like ING Bank Śląski. Early investment in the company came from the SPINAKER alfa fund, which remains a shareholder.

4growth VC was established by seasoned managers with 20 years of experience in banking, insurance, and investment: Krzysztof Bachta, Tomasz Biłous, Marcin Jaszczuk, and Marek Szcześniak. They previously held executive positions at Alior Bank, where they oversaw CVC investments in fintechs like PayPo and Autenti, as well as innovation initiatives. They also held top management roles at institutions such as PZU, ING Bank Śląski, PKO BP, mBank, EY, and BCG.