Ambit represented P&J Capital in negotiations for a CZK 15 million venture capital investment in Patron GO.
The investment in Patron GO was intended to support the app’s development in the Czech market and the addition of new features. The financing, totaling CZK 15 million, was announced on June 29, 2021. Angel investor Ory Weihs participated alongside P&J Capital.
An app for monitoring household expenses
Patron GO was founded by Jiří Paták and Lukáš Vršecký. Paták had previously founded and led the financial product comparison platform ChytrýHonza.cz, while Vršecký had built the loyalty platform Rondo.cz. They launched the app for consumers in mid-April 2021.
The service used read-only access to users’ bank accounts. Its algorithms identified excessive charges or risky transactions, such as instant loans, and alerted users to them. For more complex services, such as insurance, users could connect directly through the app with a specialist who could recommend a comparable, lower-cost service.
According to the press release, the app had more than 8,300 registered users when the investment was announced.
Funding for the Czech market and app development
The new funding was intended to support development in the Czech market and the addition of new features. The company planned to focus primarily on gamification features designed to make the app more user-friendly and encourage repeat use. The CZK 15 million was a joint investment by P&J Capital and Ory Weihs.
Further funding and expansion plans
In April 2022, Patron GO announced a further investment from Zero Gravity Capital of CZK 40 million and preparations to enter Slovakia. At the time, the company planned to launch the Slovak version in June 2022.
