BNPL SaaS agreement signed between Sileon and the Hungarian fintech company Paysome
Sileon expands internationally by signing an agreement with Paysome in Hungary. The agreement is Sileon's first for its self-developed BNPL SaaS platform. The collaboration allows Paysome to offer Buy Now Pay Later functionality to its customers by using Sileon's technology. The BNPL platform is expected to be integrated into Paysome's infrastructure during the first quarter of 2023.
Paysome is a Hungarian fintech company that offers interest-free BNPL through card payments. The onboarding is simple with instant approvals and payments can be made in for example 30 days or 3 to 6 installments.
“One of the most important factors for us is being able to use the BNPL platform agnostically across multiple markets. Sileon makes this possible and helps us increase our presence in the growing BNPL market at a rapid speed,” says Mete Atug, CEO at Paysome.
The collaboration with Paysome is completely SaaS-based, in which Paysome, during an agreed period of 3 years, pays a fixed fee per month, as well as a smaller fee per transaction. Signing the Hungarian company Paysome as a new platform customer reinforces Sileon’s strategy of being a leading international supplier of BNPL technology.
“We are very excited to meet the high demand for BNPL tech and live up to our goal of international growth in an accelerating segment. This is a milestone for Sileon and we look forward to supporting Paysome with their BNPL expansion,” says David Larsson, CEO at Sileon.
For more information, please contact:
David Larsson, CEO, Sileon AB
Phone: +46 725 502 306
This information is such that Sileon AB (publ) is obligated to disclose under the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact persons set out above, on November 15 2022 at 7:30 a.m. CEST.
Sileon AB (publ) is a global fintech company that offers an innovative SaaS-based Buy Now Pay Later (BNPL) functionality to banks, lenders and fintechs. Sileon's BNPL solution is integrated into the customer's environment and operates under the customer’s brand, which, unlike conventional BNPL solutions, enables the customer to independently provide BNPL without being dependent on third parties. Sileon operates in a fast-growing international market with an estimated transaction value of $ 680 billion globally by 2025. Sileon is listed on the Nasdaq First North Growth Market and has approximately 60 employees at its headquarters in Stockholm, Sweden.