South Central Ventures Invested in a New Way of Shopping Experience

South Central Ventures is adding another member to its portfolio in Serbia, Leanpay. It is a consumer financing Fintech start-up that helps people pay for consumer goods on credit/in installments. Leanpay is focused on reinventing Point-of-Sale financing by providing instant and easy installment plans in all sales channels.

The Global Point-of-Sale Financing is poised to have significant growth in the following years. Technology and abundant data indicate that merchants and financial institutions can now offer loans at the moment of purchase, either online or in stores. At the same time, traditional credit cards are becoming less popular among younger consumers which created a fresh momentum on the market.

Leanpay’s solution provides advantages for both consumers and merchants. For consumers, it’s easy to see the appeal of Leanpay POS financing. It’s instantaneous and digital and can offer greater transparency on the total cost of the purchase, and it provides more flexibility when it comes to paying for goods and services.

Offering Leanpay POS financing increases customers’ buying power, as it gives them more time to pay for their purchases, which in turn allows them to choose items of greater value. Leanpay customers said that they spent on average more than 7,5% because of the possibility to borrow at the checkout.

The Leanpay team is based in Serbia and Slovenia, while their HQ is in London. The team consists of experienced professionals from retail, banking and financial software development. Co-founders Misa Zivic and Dushan Neshovski, both lifelong entrepreneurs, started to build the idea during their MBA studies on University of Oxford. The core team was later strengthened by experienced C-level banking executives, Janko Medja and Tilen Zugwitz.

“Leanpay’s multidisciplinary team managed to create value to both customers and merchants. We see that our approach could have a huge opportunity in the EU market, by joining EU single trading area and its fragmented financial market in order to bring consistent and coherent experience in POS financing across EU. Partnership with South Central Ventures will help us strengthen our position in Slovenia and prepare the infrastructure to grow in the EU,“ said Misa Zivic, Leanpay’s CEO.