PragmaGO opens a company in Spain and accelerates international expansion

12 lutego 2026

This is the second foreign market - after Romania - where the PragmaGO Group will develop financial services for SMEs. In the first stage, entrepreneurs in Spain will gain access to PragmaCash, financing based on the Merchant Cash Advance (MCA) model. PragmaGO is currently implementing this service with partners such as Qonto. PragmaGO Spain, S.L. is registered in Barcelona - one of the largest business and financial hubs in Spain. The Group expects to replicate its success from Poland, as the Spanish market shows many similarities to the domestic one. Around 3.2 million businesses operate there, nearly 99% of which are micro, small and medium-sized enterprises.[footnoteRef:2] [2: Instituto Nacional de Estadística. (2024, 20 grudnia). Directorio Central de Empresas (DIRCE). 1 de enero de 2024. https://ine.es/dyngs/Prensa/es/DIRCE2024.htm INE OECD. (2025). Fostering productivity growth in small and medium-sized enterprises: OECD Economic Surveys: Spain 2025 – Full report. https://www.oecd.org/en/publications/oecd-economic-surveys-spain-2025_abc5c435-en/full-report/fostering-productivity-growth-in-small-and-medium-sized-enterprises_039acae9.html]

As in Poland, Spain also faces a financing gap in the SME segment, while banks’ offerings are primarily focused on consumer products. As a result, smaller businesses have limited access to ongoing financing for operational activities. Embedded lending solutions - such as PragmaCash - effectively fill this gap and provide real support for business growth. In Poland, companies using MCA financing offered by PragmaGO record revenue growth of up to 36% year on year.

“We carefully analyze all European markets and select those where we see a significant financing gap in the SME sector. We act cautiously and in stages to better understand local entrepreneurs’ needs. We want to be close to our customers and the realities in which they operate. Local presence builds trust in our services, enables us to tailor our offering to local practices, and supports the development of long-term relationships with partners in the embedded finance area. In Poland, we are a market leader and work with key brands serving the SME sector. We aim to consistently replicate this success in subsequent countries”

- says Tomasz Boduszek, President of the Management Board of PragmaGO.

PragmaCash is financing available within a partner’s environment - for example, in the customer panel of a payment terminal operator. After logging in, the entrepreneur sees the amount available for withdrawal and can use it for any business purpose. They then complete a short online form and receive a financing decision in as little as 90 seconds. Repayment can be made automatically as a daily percentage of turnover generated with the partner.

PragmaGO is a leading non-bank financing provider for the SME sector in Central and Eastern Europe (CEE), known for innovative technological solutions with a high UX standard. In 2025, the value of PragmaGO’s portfolio exceeded EUR 155 million, and the company served over 26,000 active clients in Poland (+22% y/y). PragmaGO began its international expansion in 2024 with entry into the Romanian market through the acquisition of TELECREDIT IFN (currently operating under the PragmaGO Romania brand).

The PragmaGO Capital Group (pragmago.pl) has been operating in the SME financing industry since 1996. Today, the Group is a leading Polish fintech built on 30 years of experience working with SME clients. In 2021, Polish Enterprise Funds SCA became the majority shareholder of PragmaGO S.A. The PragmaGO Capital Group includes, among others: · PragmaGO S.A. - the Parent Company and financial institution providing funding to clients, · PragmaGO.tech - a technology provider with a team of over 40 developers and UX/UI specialists, · Monevia sp. z o.o. - a leader in single-invoice financing (invoice discounting), · Telecredit IFN S.A. (Omnicredit) - a Romanian fintech specializing in digital factoring, · PragmaGO Spain, S.L. – Spanish subsidiary, offering embedded finance.