Archive for February 16, 2025
Startup News: Wealthon raises $133 million to scale SME financing in Central Europe
“When you're going through hell, keep going." This podcast is about failure and how it breeds success. Every week, we talk to remarkable people who have accomplished great things but have also faced failure along the way. By exploring their experiences, we can learn how to build, succeed, and stay humble. The podcast is hosted by author and former TechCrunch and New York Times journalist John Biggs. He also hosts the Startup Show with Grit Daily, a podcast focused on brand new startups. If you’d like to appear on Keep Going, email john@biggs.cc. If you’d like to pitch on the Startup Show, please email Spencer Hulse (Spencer@gritdaily.com). Our theme music is by Policy, AKA Mark Buchwald. (https://freemusicarchive.org/music/policy/) Startup News: Wealthon raises $133 million to scale SME financing in Central EuropeThis fintech company is growing rapidly in Poland and Central Europe.
Wealthon, a fintech focused on SME financing, has secured $133 million in its latest funding round. This includes $126.5 million in debt and equity financing, with backing from 3TS Capital Partners and a group of angel investors. The company, founded by fintech veteran Aleksander Majchrzak and entrepreneur Aleksander Przetakiewicz, plans to use the funds to expand its product offerings, scale lending operations, and pursue international growth. In an era of almost impossible fundraising, this is pretty darn impressive. "The new funding will strengthen our market position and significantly expand Wealthon's reach,” said Przetakiewicz. “This is great news for small and medium-sized enterprises, for whom we are building our innovative financial solutions ecosystem and whom we aim to support long-term in growing their businesses.” Expanding Access to SME FinancingWealthon addresses a gap in Poland’s financial market by offering digital-first financial services for small and medium-sized enterprises (SMEs). The company provides a suite of products that include revenue-based loans, virtual wallets, credit limit cards, and mobile POS systems. Wealthon's proprietary scoring system enables near-instant loan approvals, allowing businesses to access funds in as little as seven minutes. Wealthon has seen significant growth, tripling its financing volume in 2024. The company provided $115.5 million in gross financing last year, including $23 million in SME loans. Wealthon's ability to scale quickly has positioned it as a leader in Poland’s lendtech sector. The company is now seeking a National Payment Institution license, which will allow it to further expand its financial services. Wealthon expects to generate $14.7 million in revenue in 2025, with EBITDA projected at $6.7 million. “With Wealthon’s integrated product offering designed around the needs of small and medium-sized businesses, the loans the company originates provide a compelling investment opportunity for Fortress funds,” said Ola Eriksson, Managing Director at Fortress Investment Group, one of Wealthon’s investors. Unlike traditional banks, Wealthon offers a fully digital experience with minimal paperwork and flexible repayment structures. Its flagship product, Wealthon POSCASH, provides loans based on payment terminal revenues, ensuring businesses can access credit without the burden of fixed monthly repayments. The company also offers a mobile-first financial management platform, Wealthon WALLET, integrated with Mastercard. Fintech has been a dirty word for the past few years and it’s interesting that a player like Wealthon can, first, raise over $100 million so easily in a difficult market and, second, can build out a POS and lending company in a fairly small market. I’m excited to see where this crew goes next. You're currently a free subscriber to Keep Going - A Guide to Unlocking Success. For the full experience, upgrade your subscription. © 2025 John Biggs |





Startup Show: How a Special Forces Medic learned to cook
Startup Show: How a Special Forces Medic learned to cook
Tactical Solutions makes good meals for emergency situations.
Tactical Solutions started with a problem that most startup founders don’t encounter firsthand. In 2014, while serving in the Estonian Special Forces during the Ukraine conflict, Sverre Puustusmaa found himself stuck in a tough situation with no good food options. The rations were outdated, reminiscent of canned meals from World War II. Special Forces soldiers are given some of the most advanced gear available, but when it came to food, they had to make do with whatever was available. That experience led Puustusmaa to a simple question: why wasn’t there a better option?
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By 2016, he had launched Tactical Foodpack, a brand under Tactical Solutions, dedicated to making high-quality, freeze-dried meals designed for extreme conditions. Unlike traditional military rations, these meals are actual dishes—beef bourguignon, salmon pasta, and even vegan options. The goal was to create something that retained its nutritional value, could be stored for years, and, most importantly, actually tasted good. What started as a niche product for military and outdoor use has since expanded into a business that is doubling in revenue every year.
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