Priya Patel
TLDR: Billink, a Netherlands-based Buy Now Pay Later (BNPL) fintech, has raised €29.5 million from Germany’s Varengold Bank. The funding will be used to expand Billink’s services to large web shops in the Benelux region, enter the German market, and improve the online payment experience. Billink is known for its “local hero” approach and has gained significant traction in the Dutch market, with over 3 million users and a high customer satisfaction rating. The company aims to become the most reliable online payment method by focusing on innovation and customer satisfaction.
Key points:
- Netherlands-based BNPL fintech Billink has raised €29.5 million from Germany’s Varengold Bank.
- The funding will be used to expand Billink’s services to the top-50 largest web shops in the Benelux region and enter the German market.
- Billink aims to make online buying fairer by offering payment solutions where payment is only made after shoppers receive purchases.
- The company has gained significant traction in the Dutch market and has a high customer satisfaction rating.
- Billink plans to further improve the online payment experience through innovation and its own AI application.
Article:
Billink, a Netherlands-based Buy Now Pay Later (BNPL) fintech, has secured €29.5 million in funding from Germany’s Varengold Bank. The new funding will be used to expand Billink’s services to the top-50 largest web shops in the Benelux region and enter the German market. Billink aims to make buying online fairer by offering a payment solution where payment is only made after shoppers receive their purchases.
Since its first BNPL transaction in 2012, Billink has gained over 3 million users and currently has over 3,000 web shops offering its payment service. The company has also made significant progress in the business market, with 20% of all companies registered in the Dutch Chamber of Commerce using Billink’s solution for at least one payment.
CEO of Billink, Frank Waagmeester, stated that the company differentiates itself by being a “local hero” and that it has a deep understanding of the challenges faced by web shop owners in the Benelux region. This is reflected in its high customer retention and satisfaction scores, as well as its Trustpilot rating, which is the highest in the market at 4.7. With the new funding, Billink aims to take the next step in its growth and expansion.
Part of the funding raised will be used to start serving the top-50 online shops in the Netherlands and free up working capital to accelerate the company’s expansion into the German market. Billink’s overarching ambition is to become the most reliable online payment method by focusing on innovation and customer satisfaction.
Billink is currently working on Billink Check-out 2.0, a solution that aims to personalize the customer experience and help web shop owners optimize conversion. The company is actively engaging with the largest web shops in the Benelux region to understand their challenges and needs. Additionally, Billink is developing its own Artificial Intelligence (AI) application to further enhance its payment service.
The funding from Varengold Bank is a significant boost for Billink and will help the company realize its expansion plans. With a strong presence in the Dutch market and a focus on customer satisfaction, Billink is well-positioned to become a leading BNPL fintech in Europe.
