Luxembourg’s Banking Circle says Biller — an AI-driven buy now, pay later firm for business invoices — will be joining its “ecosystem” of financial services.
“The new generation of B2B buyers expects a fast and flexible payment experience, similar to that of a consumer when purchasing online,” Banking Circle said in a news release Tuesday (Feb. 1). “Every barrier in the process is one too many. Currently, it’s often only possible to buy on invoice after a lengthy credit check, a process that can take many days.”
Based in Amsterdam, Biller’s AI-driven payment method lets business buyers make orders online and pay directly on invoice, while performing fraud and credit checks in real time, thus reducing operational burdens and risks for business sellers.
“Biller’s in-depth knowledge of the BNPL industry and its ability to implement and adapt the convenience of the consumer payment experience to the B2B space is truly impressive,” said Anders la Cour, CEO of Banking Circle Group.
Learn more: Ex-Klarna, Mollie Execs Debut BNPL Invoicing Solution Biller
He added that his bank is growing its propositions to meet the rising demand for modern financial solutions as companies increase digitization of customer and supply-chain interactions.
“We are thrilled to join the ecosystem that is one of the most innovative and fast-growing FinTech businesses in Europe,” said Derek Vreeburg, managing director and founder of Biller.
“This massively increases our chances of rapidly conquering the European market. Now that the required licenses, capital and technical infrastructure are taken care of, our full focus will be on European expansion and solving the invoicing challenges that currently exist within the B2B commerce space,” he said.
Biller launched last summer, the brainchild of veterans of Klarna and Mollie. The company says its product was built in response to the rapid growth of B2B commerce, which Biller says was inefficient at providing the right product for checkout or added flexibility.
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