Buy now, pay later platform Billie has increased its valuation to $640m after the close of its Series C round on $100m.
Dawn Capital, which focuses on B2B companies, served as the lead investor. Additional contributions came from Klarna and Tencent, as well as previous Billie backers Creandum, Speedinvest, Picus and GFC.
Billie claims the Series C is the largest funding round by a B2B buy now pay, later company.
In addition to the equity line, the company has received refinancing lines of $200m per month. This will be supplied by a group of banks led by VVRB with participation from Raisin Bank and Varengold Bank.
Funds from the round will help Billie expand internationally and grow its technical integration with Klarna and other strategic partners. Alsongside this, the FinTech company hopes to enhance its product with new features, such as longer payment deadlines, instalments, special offers, e-invoicing and more.
The German FinTech company, which was founded by Dr. Matthias Knecht, Christian Grobe, Aiga Senftleben and Artem Demchenkov, provides B2B companies with a selection of buy now, pay later services.
Dawn Capital general partner Josh Bell said, ?As a specialist B2B investor with a deep fintech focus, weve been closely following Billie and the evolution of the B2B BNPL market. Over the last few years, weve built a trusted relationship with Matthias, Christian and Aiga, impressed by the clarity of their vision, rapid growth and deep experience not only in B2B payments but in the wider risk and regulatory landscape too.
?We are confident they are well on the way to revolutionising the B2B payments market and excited to join them on the journey ahead.p>
Its valuation has nearly quadrupled since its previous funding round, which closed on ?30m in 2019.
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