Netherlands-based BNPL Payment Solution startup, Billink, secures €29.5 million in funding from the German Varengold Bank.
Billink BNPL solution is now trusted by 3 million shoppers.
Billink plans to utilize the funds for multiple strategic initiatives. These include expanding services to the top 50 largest Benelux web shops, entering the German market, and advancing its mission to create a fair online buying experience, providing the same level of assurance as offline transactions for consumers and web shops.
Billink is a payment solution that is only made after shoppers receive purchases. Since its first BNPL transaction in 2012, Billink has amassed 3 Million users and over 3,000 webshops now offer its payment service. The scale-up has gained ground in the business market. Approximately 20% of companies registered in the Dutch Chamber of Commerce have made at least one payment using the solution.
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Billink CEO Frank Waagmeester said:
“We set ourselves apart by being a ‘local hero’. We have over ten years of experience in the Benelux payment sector and are aware of the difficulties faced by webshop entrepreneurs. This is demonstrated, among other things, by a strong customer satisfaction and retention score and the highest-ranking 4.7 on Trustpilot. We are prepared to move forward with this solid base.”
The Dutch payment company is now prepared to take on Riverty, previously AfterPay, of Germany, and Klarna of Sweden. Following a protracted procedure overseen by Philip Niemeyer, Executive Director A-DCM, a collaboration was formed with the German Varengold Bank. With the money, Billink will be able to begin serving the top 50 online retailers in the Netherlands and free up operating capital to quickly expand into the German market. Billink wants to lead the online payment industry in dependability by emphasizing both client satisfaction and innovation.
“Offline, a customer is accustomed to paying a single amount to receive a good or service. If all goes according to plan and you’re happy with your purchase, you pay in advance when you make a payment online. We believe it to be unjust,” Waagmeester said. “We are currently developing Billink Check-out 2.0, which helps web shop owners maximize conversion while further personalizing the consumer experience. To do this, we are not only discussing the demands and issues of the biggest webshops in the Benelux but also creating our artificial intelligence (AI) application.
