DLA Piper Dinu has assisted BT Investments, part of the Transilvania Bank Group, in becoming a shareholder in local FinTech startup Timesafe, the developer of payment application Pago. The transaction was advised by BT Capital Partners, the investment banking division of the Transilvania Bank Group, together with DLA Piper.
Timesafe is the developer of Pago, a utility for managing and paying utility bills, prepaid card pre-payment and pay-per-bill payments. Pago is the only application in Romania for paying all monthly invoices by card in one account. It simplifies online bill payment by linking online accounts, or by scanning the barcode on the bills of over 40 utilities. Details about the application, features, and list of integrated vendors are available on the application website.
Adrian Cighi, co-founder of Pago, said, "The partnership with Banca Transilvania will allow us to accelerate the development of the Pago application. The investment will be used especially for technical product developments and the addition of new suppliers, and new payment types to benefit our users. We are grateful to BT's management for their confidence and help, and we are convinced that together we can make Pago one of the most used payment applications in Romania. We would also like to thank the teams from BT Capital Partners and DLA Piper for their contribution to the transaction."
Marian Dinu, Country Managing Partner at DLA Piper commented, "The FinTech sector is one of the most dynamic, with a high potential both globally and in Romania. FinTech helps build new business models that enabDLA Piper Dinu has assisted BT Investments, part of the Transilvania Bank Group, in becoming a shareholder in local FinTech startup Timesafe, the developer of payment application Pago. The transaction was advised by BT Capital Partners, the investment banking division of the Transilvania Bank Group, together with DLA Piper.
Timesafe is the developer of Pago, a utility for managing and paying utility bills, prepaid card pre-payment and pay-per-bill payments. Pago is the only application in Romania for paying all monthly invoices by card in one account. It simplifies online bill payment by linking online accounts, or by scanning the barcode on the bills of over 40 utilities. Details about the application, features, and list of integrated vendors are available on the application website.
Adrian Cighi, co-founder of Pago, said, "The partnership with Banca Transilvania will allow us to accelerate the development of the Pago application. The investment will be used especially for technical product developments and the addition of new suppliers, and new payment types to benefit our users. We are grateful to BT's management for their confidence and help, and we are convinced that together we can make Pago one of the most used payment applications in Romania. We would also like to thank the teams from BT Capital Partners and DLA Piper for their contribution to the transaction."
Marian Dinu, Country Managing Partner at DLA Piper commented, "The FinTech sector is one of the most dynamic, with a high potential both globally and in Romania. FinTech helps build new business models that enable banks to deliver the best services to their customers and business partners. Our sector know-how combined with our day-to-day marketplace involvement, means we provide the highest standard of advice. The DLA Piper Dinu team is delighted to have assisted BT Investments in connection with the investment made in Pago's developer, Timesafe".
The DLA Piper Dinu team was led by Country Managing Partner Marian Dinu, assisted by Head of Intellectual Property, Media and Technology Ana-Maria Andronic. They were supported by Corporate counsel Cristina Bucur, Corporate senior associate Oana-Dutu Buzura and Intellectual Property, Media and Technology senior associate Alexandru Campean.le banks to deliver the best services to their customers and business partners. Our sector know-how combined with our day-to-day marketplace involvement, means we provide the highest standard of advice. The DLA Piper Dinu team is delighted to have assisted BT Investments in connection with the investment made in Pago's developer, Timesafe".
The DLA Piper Dinu team was led by Country Managing Partner Marian Dinu, assisted by Head of Intellectual Property, Media and Technology Ana-Maria Andronic. They were supported by Corporate counsel Cristina Bucur, Corporate senior associate Oana-Dutu Buzura and Intellectual Property, Media and Technology senior associate Alexandru Campean.
