US PayTech Resolve has raised $60m in funding to expand its embedded billing platform for business-to-business (B2B) companies.
Taking part in the investment round were Initialized Capital, Haystack VC, Commerce Ventures, KSD Capital, Clocktower Ventures among others.
Resolve was previously spun out by buy now, pay later company Affirm in 2019 with an aim to focus exclusively on B2B billing. Resolve claims it has since seen ‘overwhelming demand’ for its offering.
Resolve facilitates deferred payments between businesses and currently works with US-based manufacturers, wholesalers, and distributors. The company offers a digital 30, 60 or 90-day payment delay solution for businesses looking to temporarily defer their payments.
According to the company, its delayed payment offering ‘integrates seamlessly’ into a B2B firm’s existing financial technology stack through the use of single-click embedding technology.
Resolve CEO Chris Tsai said, “Growing companies must balance heightened demand for deferring payments from their business customers with their own limited capacities to satisfy that demand.”
Initialized Capital general partner Alda Leu added, “Software is eating B2B payments. B2B buy now, pay later has been around for thousands of years for businesses who buy and sell on credit from one another. Resolve’s billing platform for deferred payments modernizes this timeless B2B transaction with technology that’s built for the digital and e-commerce era.”
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