UK-based buy now, pay later (BNPL) company Playter has raised $1.7m in a seed funding round.
The seed financing round was co-led by investment companies Fin Capital and 1818 Ventures.
Founded in 2021, Playter helps fund the global community of startups and scaleups by helping them convert any invoice into BNPL.
The company claims it helps firms scale quicker, reduce their burn rate, increase their runway and take control of all payment terms regardless of the supplier.
Playter claims it enables businesses to unlock up to £300,000 with no interest costs or revenue sharing with a subscription fee starting at £550 per month.
The firm said it has grown over 1000% in size and revenue in recent months and is using the financing to sustain growth.
Playter CEO Jamie Beaumont said, “Accessing funds for businesses can be a painful, complex and time consuming experience, but we’re here to fix that. Our subscriptions offer clients access to easy, fast and affordable funding to spread their services into manageable payments. We’re helping businesses increase their liquidity and stretch their cash flow further and for longer.”
Copyright © 2022 FinTech Global
