Billie raises $100 million
Buy Now, Pay Later provider Billie secured funding from investors including Dawn Capital, Klarna and Tencent.
In its new funding round, fintech Billie has raised $100 million. Leading the round was UK investor Dawn Capital. Swedish payments provider Klarna and China's Tencent were new entrants. Other investors include Creandum, Speedinvest, Picus and GFC. The fintech's total valuation rose to $640 million.
Besides, Billie has secured loans of US$200 million per month. Around 100 million comes from Vereinigte Volksbank Raiffeisenbank led by Ralf Magerkurth, Finanz-Szene reported. Raisin Bank and Varengold Bank are also providing funding.
Billie plans to use the funding to expand internationally and improve its digital business experience. Founded in 2016 by Christian Grobe, Matthias Knecht and Aiga Senftleben, the startup Billie offers a "Buy Now, Pay Later" payment method. It allows customers to buy goods immediately and pay later. Since the beginning of October, Billie has been cooperating with Klarna to offer the payment method to business customers as well.
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