Billie is one of the leading “Buy Now, Pay Later” (BNPL) services in Europe. It serves as an additional payment method merchants can offer to their buyers to encourage them to shop in a seamless, less-expensive way.
The firm has now announced the completion of its latest €86.2 million Series C funding round. Owing to this new deal, the fintech firm’s valuation recorded a significant spike to about €551.5 million, almost four times its value as at the last funding round.
This new funding round was led by Dawn Capital, with participation from Klarna and Tencent. Some of its returning backers also made commitments including Creandum, Speedinvest, Picus, and GFC.
This funding round has set a remarkable record as the world’s largest in the BNPL sector to date in the B2B BNPL market.
Asides from the equity financing, the firm has also secured refinancing lines of over €172 million per month. The capital will come from a consortium of German banks led by VVRB (Vereinigte Volksbank Raiffeisenbank eG) with participation from Raisin Bank and Varengold Bank.
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