Billie, the Berlin-basically based fintech startup that provides a B2B invoicing and payments platform, has raised €30 million in Series B funding. Main the spherical is Creandum, alongside SpeedInvest, Rocket Net’s GFC and Picus.
Founded in 2017 by the the same physique of workers within the lend a hand of SME on-line lending platform Zencap, which exited to Funding Circle in 2015,Billiedesires to pronounce the the same level of comfort seen in B2C payments and e-commerce to B2B invoicing and payments.
Claiming to be Germany’s main “one-finish store” for handling all outgoing invoices of B2B sellers, including sending invoices, collecting payments and invoice financing, Billie’s potentialities fluctuate from SMEs, mountainous e-commerce gamers, and transnational marketplaces.
“As B2B transactions are more than twice the amount of B2C transactions, the doable to lend a hand our potentialities is unheard of. And, to this level, this market is unserved,” Billie co-founder Dr. Matthias Knecht tells me.
“We’re in a situation to acquire 22 situation ourselves within the course of B2B payments because B2B sellers in general face long fee phrases except getting paid, administrative burden to handle collections on unpaid invoices, and severe economic risks from fee defaults. Meanwhile, B2B patrons in general face inflexible one-measurement-fits-all fee phrases that are now not tailored to the money-cycle desires of their industry. In consequence they revert to ragged-fashioned working capital loans to quilt their liquidity desires”.
To fix this, Billie currently provides two core solutions.
The fundamental is a checkout financing resolution for B2B on-line stores, which embeds a financing option within the bring collectively checkout process. “It permits quick financing of the customer’s acquire directly at the bring collectively level-of-sale, and takes away all administrative difficulty and default nervousness from the vendor,” explains Knecht.
The 2nd is SME invoice factoring, which the Billie co-founder describes as a truly automated platform that handles all outgoing invoices of SMEs.
“Minute and medium sized businesses can handle all their outgoing invoices through our platform, acquire quick financing for each and each invoice (i.e. they invent now not need to wait 90 days to receives a fee by their potentialities), and additionally outsource the collections process as successfully as protection of default nervousness to Billie,” he says. “It’s an keen, extremely automated ‘piece of ideas’ product that allow’s SMEs focal level on what they invent finest and have Billie handle the operational burden of invoice administration and default protection”.
With this day’s injection of capital, Knecht says the startup plans to give new solutions that are namely focused at the buyer aspect of B2B transactions by handling all processes around payables. This could occasionally encompass letting B2B patrons flexibly opt fee phrases and reducing the bookkeeping difficulty by acting as a single creditor.
“We can moreover launch rolling out our solutions across Europe at some level, because the need to flip B2B transactions into a frictionless abilities exists across nations,” he adds.