Startups such as Billie, Mondu, Tranch and Tillit are all offering BNPL solutions – which allow buyers to split their payments into instalments – to companies in an attempt to secure a slice of a US$700bil industry that gives companies short-term loans to help them manage their daily business.
Pure-play BNPL firms have seen their valuations crash this year as rate rises across the world challenge the viability of their business models. But plenty say the ease of use such upstarts can bring to age-old credit products will prove a winning formula in this part of the market. “If a typical transaction on business-to-consumer BNPL is about €80 to €90 , our typical transactions are about 10 times that size,” said Aiga Senftleben, co-founder of Sequoia-backed Billie. The Berlin-based firm, which was valued at US$640mil in its last funding round, works with banks as financing partners and operates currently in Germany, Austria and Sweden.
In Germany alone, for example, there were €200bil of ecommerce business transactions completed in 2021, compared with €86.7bil of business-to-consumer ecommerce, according to data by Statista, a research firm.
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