NX Technologies raises five million euros

With its platform bezahl.de, the start-up wants to make payment management easier for its customers in the automotive trade. The start-up has now received money from investors.

The Cologne-based start-up NX Technologies has raised five million euros from investors. The Embedded.Capital fund and the US entrepreneur and "Automotive Mastermind" founder Marco Schnabl led the seed financing round.

The capital will flow into the payment management platform bezahl.de, which is operated by NX Technologies. The start-up handles receivables and payment management for car sales for its customers such as AVAG, Sixt Leasing and the Beresa Group. According to the company, 200,000 car sales and workshop transactions have been processed via the platform since its market launch in 2019.

"We will use the new funds from the oversubscribed round to fully develop the automotive market and introduce an embedded buy-now-pay-later (BNPL) product to the market, especially in the after-sales sector," say NX Technologies founders Lasse Diener and Ulrich Schmidt.

NX Technologies was founded in Cologne in 2018. The start-up's shareholders include Wellington Partners founder Rolf Christof Dienst, 360T founder and Managing Director Carlo Kölzer, Copart Germany Director Kai Siersleben, Auto1 CEO Gerhard Cromme and General Motors Europe President Carl-Peter Forster.