Parto Secures €2.5 Million in Pre-Seed Funding to Revolutionize Payment Solutions for the Social Economy

Hamburg, October 15, 2024 – Social FinTech startup Parto has successfully raised €2.5 million in a pre-seed funding round, with participation from prominent investors including Heal Capital, Motive Ventures, and several business angels. The funding will support Parto’s mission to transform payment processes in the social economy, offering digital solutions tailored for sectors like child and youth welfare, elderly care, and integration assistance.

Pioneering Digital Payment Solutions for the Social Economy

Parto is the first startup to offer a dedicated digital payment infrastructure for companies operating in the social economy. Traditionally, many organizations in this sector, such as care homes and welfare services, rely on cash for administrative tasks like managing safekeeping funds and daily expenses for residential care groups. This manual handling of cash creates significant administrative challenges and adds to the workload of care workers. Parto’s innovative solution digitizes these processes, cutting operational costs by up to 75% and significantly lightening the administrative burden on employees.

Key Partnerships and Expansion Plans

The idea for Parto’s solution was born from a collaboration with Diakonie Nord Nord-Ost, a key player in the social economy and now Parto’s first customer. With the recent funding, Parto aims to expand its partnerships with organizations like Visa and Volksbank Mittweida to scale its offering and further integrate digital payments into the social economy.

“We not only alleviate administrative tasks but also empower care recipients to engage digitally,” said Frank Reimer, Head of Digital Transformation at Diakonie.

Investor Confidence in Parto’s Vision

Investors have recognized the growth potential of Parto’s business model. Heal Capital, known for its focus on digital health innovations, and Motive Ventures, specializing in technology-driven financial solutions, have both placed their confidence in Parto’s ability to revolutionize the social economy’s payment systems. The backing from these partners will help Parto lead the charge in modernizing financial processes in the social sector, establishing itself as a pioneer in a new payment vertical.

With this pre-seed funding, Parto is set to continue its rapid growth and innovation, improving efficiency for care workers and enhancing the digital inclusion of individuals in care.