The investment follows a seed funding of USD 1.7 million in March 2022, continuing Playter’s growth in recent months. This series of funding will contribute to further expansion within the UK market, with the company having international ambitions in the future.

Commenting on the news, Playter’s officials explained that BNPL for business is a completely different concept to B2C BNPL. Right now, there are very few B2B purchases happening online. They’ve created a platform that gives total control for businesses to dictate what payment terms they want to have, helping them pay over 6-12 months, whilst their suppliers are still paid within 24 hours. With this capability, they help businesses that want to scale regardless of the market conditions.

Playter has a different BNPL commercial model, offering a subscription model within the B2B lending markets. This means all funding is non-dilutive, unsecured, and carries no interest. Its seamless model means that SMEs can apply in just five minutes and access funds in around 24 hours from gaining access to the platform. Business owners keep full control, with no dilution or restrictive debt.