The Series C funding brings Billie to a $640M valuation. Here are the top-line bullets you need to know.
Billie, a B2B invoicing and payments technology provider for SMBs, has raised $100M in a Series C. The round drew participation from Tencent Holdings, Klarna, and Dawn Capital.
How’s the company performing?
- Germany-based Billie provides checkout finance and SME invoice factoring solutions.
- Following Klarna’s participation in the round, Billie is partnering with the fintech company to integrate its services.
- As of May 2021, the company had worked with over 100,000 businesses and financed purchases worth a collective $870.3M.
- The company has grown almost 4x since its last financing round in July 2019.
Why does the market matter?
- The global digital lending platform market is projected to grow at a CAGR of 18.13% and reach a value of $27.07B by 2028, according to Verified Market Research.
- Today, BNPL accounts for a small portion of the overall spending on payment cards (including credit, debit, and prepaid cards) — the US sees around $8T in overall spending annually. However, BNPL is at an inflection point. By 2025, the global BNPL industry is expected to experience a 10-15x increase in spending volume, surpassing an estimated $1T in annual gross merchandise volume. This growth trajectory has attracted incumbent attention and moved them to improve the digital user experience.
- In 2021, BNPL players have already set an annual funding record, as they have seen over $2.1B in equity funding across 20 deals. There have been major acquisitions in this space as well, such as Square acquiring AfterPay for $29B.