Gouda-based Billink, a key player in Netherlands’ BNPL sector, has successfully secured a substantial €29.5 million in funding.
According to EU Startups, this financial injection comes courtesy of the German Varengold Bank, marking a significant milestone for the FinTech company.
Since its inception, Billink has revolutionized the online payment landscape. The company offers a BNPL solution, allowing customers the convenience of paying only after the receipt of their purchases. This innovative approach has resonated with the market, amassing a user base of 3 million and partnering with over 3,000 webshops. Notably, the company has also made significant inroads in the business sector, with 20% of companies registered in the Dutch Chamber of Commerce utilizing its payment services.
The injection of €29.5 million is poised to further catapult Billink’s growth and market presence. Specifically, the funds are earmarked for an ambitious expansion plan. Billink aims to extend its services to the top 50 largest Benelux webshops, penetrate the German market, and continue enhancing its platform to ensure fairness and reliability in online transactions, reminiscent of the assurance found in offline shopping.
This funding round not only highlights Billink’s financial success but also underscores its commitment to innovation and customer satisfaction. The company is actively developing Billink Check-out 2.0, aiming to personalize the customer experience even further. This involves direct engagement with leading webshops in Benelux to understand their challenges and needs, as well as the integration of cutting-edge AI technology to optimize webshop conversion rates.
Billink CEO Frank Waagmeester expressed the company’s vision and ethos, stating, “We differentiate ourselves by being a ‘local hero’. We have been active in the payment market in the Benelux for over a decade and understand the challenges of our webshop owners. We see this reflected in, among other things, a high customer retention and satisfaction score and a 4.7 Trustpilot rating, the highest in the market. With this great foundation, we are ready to take the next step.”
Prior to this funding, Billink had already established a formidable reputation and user base since its first BNPL transaction in 2012. This new financial milestone is set to bolster its market position and fulfill its ambition to become the most reliable online payment method, prioritizing innovation and customer satisfaction.
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