Český startup Patron GO získava investíciu v hodnote 1 milión eur
Prague, August 12, 2024 – The latest investment in Patron GO, a smart personal finance optimization app, comes from Slovakia. The Slovak fund Venture to Future Fund joins other investors in the fourth investment round, collectively contributing EUR 1 million. This funding will support the ongoing expansion into Poland and enhance coverage in existing markets.
"At Patron GO, we aim to be the first choice for clients in personal finance solutions, as evidenced by our recent third-place win in the Fintech category at the 2024 Zlatá Koruna competition and being named Startup of the Year 2023 at the Central European Startup Awards. Users enjoy our smart financial solutions thanks to gamification, which is reflected in Patron GO's frequent ranking at the top of app download charts. The investment will ease our ongoing expansion into Poland, a market experiencing economic growth and a rising standard of living, making our entry perfectly timed," said Lukáš Vršecký, CEO and co-founder of Patron GO.
In the Czech Republic and Slovakia, Patron GO has already mapped over 17 million transactions for nearly 250,000 users, making expansion into Poland a natural step in business growth. This move also broadens the portfolio of investors, including SpeedUp Venture Capital Group, Zero Gravity Capital, Lighthouse Ventures, and P&J Capital, who together have invested over €3.5 million in the app. In Poland, Patron GO is already collaborating with companies like My Lead and Kontomatik. Partnerships with major Polish banks further enhance the app's ability to map and analyze user transactions.
"Patron GO has a bright future ahead. We are pleased to support this project in its development, not only in Slovakia and the Czech Republic but also in Poland. With Polish wages now surpassing Czech wages, this expansion is the right move for Patron GO," commented Martin Banský from Venture to Future Fund.
The app rewards users for smart financial decisions
Patron GO focuses on identifying unfavorable transactions, whether it's overpriced insurance or inefficient energy suppliers. By utilizing open banking, data analysis, and expert knowledge, the app offers users ways to better manage their finances. It not only helps save money but also guides users toward better financial decisions. For each opportunity fulfilled, users earn a monetary reward, which can be used to purchase discounted financial services from the Premium catalog or withdrawn directly to their bank account. The smart fintech solution currently has a 15-member team based in Prague’s Smíchov district. With the ongoing expansion into Poland, the team has recently grown, particularly within the IT department responsible for ensuring the app functions smoothly in the Polish market. The Sales team will also expand, welcoming over 50 new colleagues by the end of the year.
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Patron GO is a free mobile app that helps users manage their personal finances more effectively. Its goal is to be a reliable partner for clients in personal finance management, whether selecting insurance or an energy provider. The app understands a vast array of financial habits thanks to passive integration with users’ banks, securely obtaining data based on the European PSD2 directive. By combining open banking with the expertise of local finance specialists and machine learning, it analyzes user data to find ways to save and optimize finances. Patron GO was born from a passion and desire to change how people approach their finances, founded by Jiří Paták and Lukáš Vršecký, who draw on their experience from projects like Chytrý Honza and Rondo.