As a part of the agreement, the two partners aim at providing a broader range of financing solutions to more of SME clients.
Behalf enables its clients to offer business clients instant credit and payments solutions at the point of sale. By paying vendors directly “on behalf” of small businesses, as well as managing repayment and collections, the company gives small businesses the ability to match financing terms with the needs and timetable of their business.
Moreover, the company produces credit decisions in real-time, helping business to use a line of credit for both online and offline purchases. Clients can set up vendor payments directly through the company’s platform, adjust the length and frequency of repayment, and add bank details to enable automatic repayment. Once the bank information is authorised, the company contacts the client’s vendors by e-mail, notifying them that Behalf will be paying “on behalf” of the client. The process takes less than five minutes.
Behalf was founded in 2011 and has raised USD 156 million in funding to date, including a USD 27 million Series C last year. MissionOG, Spark Capital, and Viola Growth are among the company’s investors.
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