Flexbase Adds B2B BNPL Option to Its Solutions for Merchants

Finance super app for businesses Flexbase is now offering B2B merchants a buy now, pay later (BNPL) solution called Flexbase Pay.

With this product, merchants can get paid immediately while also giving their business customers the option to get 60 days of interest-free financing, according to a Monday (Sept. 19) press release.

“We enable B2B merchants to experience all the benefits of BNPL, including increasing their revenues significantly and increasing business customer loyalty, while taking the task of underwriting and credit collections off their plates,” Flexbase CEO Zaid Rahman said in the release.

In practice, merchants need only add a “Pay in 60 days with Flexbase” button to their checkout to enable the Flexbase Pay option, and then Flexbase handles the underwriting process and offers the merchants’ customers financing within five minutes, according to the release.

Online equipment rental marketplace DOZR has signed on to become the first merchant offering the new Flexbase Pay product, per the release.

“We’re really excited that these are really extended terms from anywhere close to the norm, and the terms then [enable buyers] to access thousands of suppliers, rather than one or two,” DOZR

CEO and Co-Founder Kevin Forestell told PYMNTS’ Karen Webster in an interview.

Read more: DOZR CEO Says BNPL Doubles Net Terms for Construction Rental Marketplace Buyers

Credit has always been hard to come by in the construction industry, so there’s a clear opportunity for FinTechs like Flexbase, which offers business credit, Rahman told PYMNTS in an interview posted in November.

See more: Better Funding Access Gives Small Construction Firms an Easier Path to Growth

“Growing up, I would hear my family talk a lot about the problems in the construction industry,” Rahman said at the time. “I would hear them complain a lot about cash flow as their biggest concern.”