Business-oriented buy now, pay later outfit Billie has picked up $100 million in a funding round that included participation from Dawn Capital, Klarna and Tencent.
In addition to the equity injection, the German fintech has also secured refinancing lines of $200 million per month from a consortium of German banks led by VVRB (Vereinigte Volksbank Raiffeisenbank eG) with participation from Raisin Bank and Varengold Bank.
Founded in 2016, Billie provides businesses with financing point-of-sale tools for extending credit terms to buyers, alongside invoice collection kit.
The new funding gives Billie a $640 million valuation, a quadrupling of its price tag since its $35 million Series B in 2019.
The firm says it will use the cash to finance its international expansion and enhance its BNPL offering with the adddition of new features such as longer payment deadlines, installments, special offers for B2B marketplaces, and e-invoicing.
Billie will also get closer to Klarna as part of a previously disclosed integration partnership which will see the two firms operate a two-way referral engine for B2C and B2B transactions.
Sebastian Siemiatkowski, CEO and co-founder at Klarna, comments: “BNPL for B2B is still in its infancy phase — even though the demand has never been higher. We are here to solve problems and by being able to offer this service to our merchant partners together with Billie, we are doing just that. Something we also underline with our investment in Billie.”