B2B BNPL Platform Billie Closes $100M Funding at $640M Valuation

Business-to-business (B2B) buy now play later (BNPL) startup Billie raised $100 million in a Series C funding round at a $640 million valuation, four times what its value was at its last funding in July 2019.

The round was led by Dawn Capital, with participation by Klarna, Tencent, Creandum, Speedinvest, Picus and GFC. This is the biggest funding round worldwide in the B2B BNPL market, according to a press release emailed to PYMNTS.

Billie also secured refinancing lines of $200 million per month, provided by a consortium of German banks led by VVRB, with participation from Raisin Bank and Varengold Bank.

See also: Biller Discusses BNPL In B2B eCommerce

“As a specialist B2B investor with a deep FinTech focus, we’ve been closely following Billie and the evolution of the B2B BNPL market,” said Josh Bell, General Partner at Dawn Capital.

“Over the last few years, we’ve built a trusted relationship with [co-founders] Matthias, Christian and Aiga, impressed by the clarity of their vision, rapid growth and deep experience not only in B2B payments, but in the wider risk and regulatory landscape too,” Bell added.

The new infusion of capital will be used by Billie for global expansion and technology integration enhancements. The company also plans to build out its B2B BNPL product Billie Boost, which offers extended payment deadlines, installment options, eInvoicing, and more.

Read more: BNPL’s ‘Huge Opportunity’ to Disrupt B2B Commerce

“BNPL has radically changed the payment behavior in eCommerce in the last couple of years. Consumers pay easily and conveniently, when and how they want. Today, B2B buyers from larger companies to individual retailers are going “digital-first” and are already used to automated and frictionless processes in the B2C space,” said Dr. Matthias Knecht, co-founder and co-CEO of Billie.

“They also expect to see modern user interfaces, high limits for shopping carts, as well as real-time decisions for B2B. However, 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,” he added.