BNPL startup Billie gets USD 100 mln in Series C funding

Monday 25 October 2021 12:11 CET | News

Germany-based Billie, a Buy Now, Pay Later B2B solution provider, has raised USD 100 in Series C million on a USD 640 million valuation.

The money will be used to continue building out the range of BNPL-type services that it provides to organisations buying goods to run their businesses, both in Europe and further afield. London’s Dawn Capital, a specialist in B2B startups, led the round, with internet player Tencent and Klarna also participating; previous backers Creandum, Speedinvest, Picus, and GFC are also in the round.

Klarna’s investment comes on the back of a strategic deal between it and Billie. The two are integrating their services, and it will mean that in cases where Billie has a stronger payments relationship, but a consumer transaction arises, Klarna will handle the sale; and in cases where Klarna is present but Billie is not, and a business is doing the buying, Billie’s services will kick in. 

Related to that, the company is also announcing debt refinancing of USD 200 million per month (money to run the BNPL financing), coming from a consortium of German banks led by VVRB (Vereinigte Volksbank Raiffeisenbank eG), with Raisin Bank and Varengold Bank also participating.

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Keywords: BNPL, B2B payments, fintech, Klarna
Categories: Payments & Commerce | Online Payments
Countries: Germany
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