PragmaGO maintains a growth of 56%

In January, PragmaGO informed about a record PLN 1 billion turnover (56% increase y / y), which the Company closed in 2021. PragmaGO maintains this dynamics - the same percentage increase took place in March - the company generated PLN 129 million in turnover (compared to PLN 82 million in March 2021). The result for the entire Q1 2022 also remains at a similar dynamics and amounts to 58% y / y (PLN 332 million compared to PLN 211 million in Q1 2022).

The increase in turnover is driven by the growing number of customers and financed invoices. In March 2022, PragmaGO financed 15,750 invoices for 3,192 clients (+ 142% y / y). Equal and stable business development confirms the effectiveness of actions resulting from strategic assumptions.

“We are exactly where our clients are - we use various distribution channels, in line with the concept of embedded finance. We diversify the offer of digital products, responding to the preferences of companies from various industries. PragmaGO is not only factoring, but also loan products that generate even higher growth dynamics than the average business. We are winning with this in the market - while we are recording increases, bank financing for SMEs is decreasing. Companies need simple processes and a quick response to their needs, ”recalls Tomasz Boduszek, President of the Management Board of PragmaGO.

In order to support the dynamic growth of the business, in March the strategic investor PragmaGO (Enterprise Investors) recapitalized the Company with the amount of PLN 20 million. As a result, PragmaGO obtained outstanding equity capital at the level of PLN 90 million, which means stabilization of financing sources, the possibility of 1.5-fold increase in the scale of business and the achievement of PLN 0.5 billion in the portfolio without further capital injections.

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