Gouda-based BNPL fintech Billink secures €29.5 million investment to enhance online payment reliability in Benelux
Dutch Buy Now Pay Later (BNPL) fintech company Billink has successfully raised €29.5 million in funding from Germany’s Varengold Bank. With a trusted user base of 3 million shoppers, Billink aims to solidify its position as the most reliable online payment method in the Benelux region. The fresh capital injection will support Billink in expanding its services to the top 50 largest web shops in Benelux, as well as making a foray into the German market.
Billink’s innovative payment solution operates on the premise of payment being made only after shoppers have received their purchases. Since its establishment in 2012, the BNPL provider has garnered a substantial customer base and is now employed by over 3,000 web shops. Moreover, even in the corporate sphere, 20% of companies registered with the Dutch Chamber of Commerce have utilized Billink’s payment service.
CEO of Billink, Frank Waagmeester, emphasized the company’s local expertise and commitment to meeting the unique challenges faced by webshop owners. Waagmeester highlighted the high customer retention and satisfaction rates, culminating in a remarkable 4.7 Trustpilot rating – currently the highest in the market. Building upon this strong foundation, Billink now stands poised to compete with industry giants such as Sweden’s Klarna and Germany’s Riverty (formerly AfterPay).
The partnership between Billink and Germany’s Varengold Bank was established under the careful supervision of Philip Niemeyer, Executive Director A-DCM, following an extensive selection process. The funding secured will enable Billink to cater to the top 50 online shops in the Netherlands and also enhance its working capital, facilitating a swift expansion into the German market. By prioritizing innovation and customer satisfaction, Billink aims to solidify itself as the most reliable online payment method.
The news of Billink’s funding spree arrives at a time when the BNPL market is experiencing a notable surge in popularity, with consumers seeking more flexible payment options and web shops aiming to increase conversion rates. By offering a convenient and secure payment method, Billink aims to address these needs and further enhance the online shopping experience for both customers and businesses.
In conclusion, Billink’s recent investment of €29.5 million from Varengold Bank marks a significant milestone for the Gouda-based fintech company. With its sights set on expansion and innovation, Billink aims to position itself as the go-to BNPL solution in the Benelux region, providing customers with increased peace of mind and web shops with enhanced transactional assurance. As the e-commerce landscape continues to evolve, Billink is well-prepared to navigate the challenges and deliver lasting value to its growing user base.
