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Billink raises EUR 29.5 million

Thursday 18 January 2024 14:19 CET | News

Netherlands-based BNPL fintech Billink has raised EUR 29.5 million from the German Varengold Bank.


The payment provider secured its funding to expand its services to the largest 50 webshops in Benelux, enter the German market, and continue its efforts to make online purchases safer for both consumers and web shops. Moreover, the company aims to bring the same level of assurance consumers have in offline transactions to online purchases.

Netherlands-based BNPL fintech Billink has raised EUR 29.5 million from the German Varengold Bank.

 

The next step towards expanding services

Billink, a payment solution that enables payment after shoppers receive their purchase, is trusted by over 3 million shoppers. The company has gained popularity since its first BNPL transaction in 2012 and now serves over 3,000 webshops. Billink has also made progress in the business market, with at least 20% of all registered companies in the Dutch Chamber of Commerce using the solution for payment.

According to Billink’s official statement, the company stands and has been active in the payment market in the Benelux for over a decade. Moreover, it claims to understand the challenges faced by web shop owners.
The BNPL payment industry in the Netherlands has recorded strong growth over 2023, supported by increased ecommerce penetration. A report shows that BNPL payment adoption is expected to grow steadily over the 2023-2028 period, with a forecast period CAGR of 12.6%. Moreover, the BNPL Gross Merchandise Value in the Netherlands will increase from USD 8.0 billion in 2022 to USD 17.4 billion by 2028.

Protection through BNPL

As the official announcement shows, Billink has established a partnership with the German Varengold Bank. This funding will enable Billink to offer its services to the top 50 online shops in the Netherlands and free up working capital to expand into the German market. Thid, Billink aims to become a dependable online payment method by prioritising innovation and customer satisfaction.

According to Billink, offline consumers are accustomed to paying only after receiving a service or product. However, the online payment system requires consumers to pay in advance, with the assumption that everything will go effortlessly, and the purchase will be satisfactory. Billink considers this to be unfair and is currently developing Billink Check-out 2.0. This new system will provide customers with a more personalised experience and assist web shop owners in optimising conversion. Moreover, Billink is currently in negotiations with the largest web shops in Benelux to understand their challenges and needs and is also developing its own AI application.


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Keywords: funding, investment, BNPL, online shopping, online payments
Categories: Payments & Commerce
Companies: Billink, Varengold Bank
Countries: Netherlands
This article is part of category

Payments & Commerce

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Varengold Bank

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