PragmaGo estimates turnover of 26% y/y to PLN 647 mln in Q3 ‘24
PragmaGO reported significant growth in Q3 2024, with nominal turnover of financed receivables reaching PLN 647 million, a 26% y/y increase. Factoring accounted for PLN 512 million (up 21% y/y), while embedded finance reached PLN 135 million (up 51% y/y). The company also expanded by acquiring a majority stake in Romanian fintech Telecredit IFN S.A., marking its entry into Central and Western European markets.
In the first three quarters of 2024, total turnover was PLN 1.8 billion, up 26% y/y. Embedded finance services saw rapid growth, attracting 10,366 entrepreneurs, a 27% increase. The Merchant Cash Advance service also saw notable growth, with 1,723 customers (+57% y/y) securing PLN 74 million (+95% y/y).
PragmaGO’s strong presence on the Catalyst market included two bond issuances, raising PLN 65 million, with total debt standing at PLN 260.8 million. Final results will be announced on November 21, 2024.
