Germany-based online lending platform developer Billie secured $100m today in a series C round featuring internet and gaming group Tencent and consumer finance provider Klarna.
Venture capital firm Dawn Capital led the round and was also joined by Creandum, Speedinvest, Picus Capital and Global Founders Capital. The round valued it at $640m.
Founded in 2016, Billie provides a payment and invoicing platform for the business-to-business (B2B) market that allows businesses to buy products before paying for them.
The funding will be used to develop a range of buy now, pay later (BNPL) services in Europe and abroad. The round was billed by the company as the largest to date for a B2B BNLP company.
Earlier this month, Billie entered into a partnership with consumer BNPL specialist Klarna to embed Billie’s payment tools into Klarna’s checkout process for businesses to use.
Billie raised $35m in its 2019 series B round, which was led by Creandum and which also featured Speedinvest, Picus Capital and Global Founders Capital.
Creandum had previously led the company’s $11.8m series A round in December 2017, with e-commerce holding group Rocket Internet Picus Capital, Speedinvest, Global Founders Capital and Avala Capital filling out the investors. All bar Creandum had reportedly supplied it with $4.1m in seed funding 10 months earlier.
