B2B BNPL fintech Playter lands $55m funding round
B2B buy now, pay later (BNPL) fintech Playter has secured $55 million in equity and debt funding to expand its SME-focused platform.
The round, led by Adit Venture Capital and Fasanara Capital, saw participation from Fin Capital, Act Venture Capital and 1818 Ventures.
The latest investment follows the firm’s $1.7 million raised in March and will support Playter’s UK expansion with an eye to move into international markets in the future.
Playter CEO and founder Jamie Beaumont says: “BNPL for business is a completely different concept to B2C BNPL. Right now, there are very few B2B purchases happening online.
“We’ve created a platform that gives total control for businesses to dictate what payment terms they want to have, helping them pay over 6-12 months, whilst their suppliers are still paid within 24 hours,” Beaumont adds.
With Playter, all funding is non-dilutive, unsecured, and carries no interest, and the ability to take advantage of annual discounts on software as well as smoothing out cashflow can be “invaluable in tougher times”, Beaumont says.
Playter’s model means that SMEs can apply in just five minutes and access funds in as little as 24 hours. Playter launched in 2021 and is headquartered in London.