Billie, a Berlin-based “Buy Now, Pay Later” (BNPL) platform for businesses, announced that it has closed a successful Series C funding round of US$100 million, increasing its valuation to US$640 million which has nearly quadrupled since the last funding round.
The round was led by European B2B investor Dawn Capital and joined by Klarna and Tencent, alongside existing investors Creandum, Speedinvest, Picus and GFC.
In addition to its equity funding, Billie has secured refinancing lines of US$200 million per month.
The capital will be provided by a consortium of German banks led by VVRB (Vereinigte Volksbank Raiffeisenbank eG) with participation from Raisin Bank and Varengold Bank.
Billie said that it will use the new investment for its international expansion, as well as significantly expand its technical integration with Klarna and other strategic partners.
In addition, the company plans to enhance its B2B BNPL product—Billie Boost by adding features such as longer payment deadlines, installments, special offers for B2B marketplaces, e-invoicing and more to be added to the product.
““Buy Now, Pay Later” for business customers, is still at a very early stage, and worldwide, there is nearly no provider of a BNPL product like what Klarna offers for B2C.
We aim to close this gap, and we are happy to have gained strong partners in Dawn Capital, Klarna and Tencent to establish BNPL as the leading payment method for business customers,”
said Dr. Matthias Knecht, co-founder and co-CEO of Billie.
Featured image: (From left to right) Billie’s founders Aiga Senftleben, Matthias Knecht, Christian Grobe
