Enterprise Investors owned Polish fintech PragmaGO announced it took over its Romanian peer Telecredit from the investment fund Reconstruction Capital II Limited (RC2) and Elisa Rusu, the company's CEO. 

The Katowice-based fintech is purchasing 89% of Romanian Telecredit's share capital for a total price of €5.785mn, which may rise to a maximum amount of €6.23mn on Telecredit's financial results in 2025, according to Profit.

PragmaGO is one of the largest non-banking financial institutions on the Polish market providing services to small and medium-sized entrepreneurs.

Telecredit operates under the Omnicredit brand and is a Romanian fintech company, providing digital factoring services and, to a lesser extent, loan financing to small and medium-sized enterprises. 

The new investor plans to significantly increase the scale of Telecredit’s operations. The buyer intends to introduce its financing model, with cash advances and B2B products to the Romanian market.

This is expected to make Omnicredit the leading provider of financing to small and medium-sized companies in Romania.

In 2023, Telecredit had sales revenues of RON9.9mn (€2mn) and a net profit of RON1.7mn. Unaudited data for the first half of 2024 indicate sales revenues of RON7.5mn and a net profit of RON2.7mn.

The receivables portfolio of Omnicredit, which also provides non-bank financing solutions for SMEs, increased by 54% y/y to €6.4mn at the end of 2023. The company's receivables portfolio increased to €8.2mn during 2024.