The funding helps the company capitalize on the buy now, pay later boom. Here are the top-line bullets you need to know.
Resolve, which offers buy now, pay later (BNPL) billing for B2B payments, has raised $60M in a Series A, with participation from Initialized Capital, KSD Capital, and Haystack VC, among others.
How’s the company performing?
- San Francisco-based Resolve is a BNPL B2B fintech company that offers billing and credit purchases solutions. It was spun out of Affirm in January 2019.
- It automates underwriting for B2B transactions, pulling data from past payment histories.
- The company is experiencing high demand for its services because of growing e-commerce .
Why does the market matter?
- The fintech market is projected to expand at a CAGR of 22.2% to reach a value of $305B by 2025, according to Market Data Forecast.
- Globally, fintech adoption stands at 25% and provides enormous opportunities for growth to providers and first movers.
- The market has witnessed a funding boom in recent years. In 2020, VCs infused $42B into fintech companies.
- The Covid-19 pandemic drove the adoption of cashless transactions and the increase in demand for digital payment solutions and online payment gateways.