Dutch buy now, pay later outfit in3 has raised $11.1 million in funding and struck a deal with payments firm Worldline to bring its services to more merchants.
In3 was established in 2018 by a team that had been a part of the early BNPL wave in the 2010s. It allows customers to pay for goods over three payments within 60 days with zero per cent interest and without credit registration.
The firm says revenue has increased 300% year-on-year since launch, with partner merchants such as Kwik Fit, EP, La Souris, Matt sleeps and Dekbed-Discounter signed up.
Through the partnership with Worldline, in3 will provide a technology stack that will allow both online and offline merchants, who are part of the Worldline network, to offer BNPL services.
Meanwhile, the $11.1 funding from Finch Capital will be used to further build out the technology platform and strategic hiring across the company.
Hans Langenhuizen , CEO, in3, says: "In3 was our honest approach to offer BNPL to consumers without costs which effectively allowed people to pay in 3 instalments within sixty days, with 0% interest. Because of the term of 60 days, a registration in the credit registers is not required.
"This gives the consumer the possibility to buy what they want instead of compromising on quality products."