Focusing on business invoices, Amsterdam’s ai-powered BNPL platform Biller has been acquired by EQT-Ventures owned Banking Circle. Post-acquisition, Biller will continue to operate as an independent entity, now just under the Banking Circle umbrella. The financial details of the acquisition were not disclosed.
As a B2B payments service utlilised by Stripe, Shopify, and Paysafe, Banking Circle is quietly amassing a wide-ranging collection of companies, that as a whole, are greater than the sum of their parts.
In late November of last year, Banking Circle snapped up B4B payments, and thereby added corporate payments and card solutions to the roster, and now, with Biller’s services, the firm has the ability to meet the demands of B2B buyers that have become accustomed to the fast and flexible services offered by their B2C cousins.
Biller’s AI-driven platform provides a payment service to buyers that want to order online and pay directly, while at the same time, perform real-time credit and fraud checks. In doing so, the service significantly reduces the risk for the seller while at the same time increasing the speed, flexibility, and convenience for the buyer. Win/Win.
"We are thrilled to join the ecosystem that is one of the most innovative and fast-growing FinTech businesses in Europe,” commented former Mollie and Klarna executive, and now managing director at Biller, Derek Vreeburg. "This massively increases our chances of rapidly conquering the European market. From the first meeting, we were impressed by the quality of the services offered by the Banking Circle ecosystem and its bias for action. Within Biller, we strongly believe in the philosophy that you achieve more together and quickly realised that we couldn’t wish for a better partner. Now that the required licenses, capital, and technical infrastructure are taken care of, our full focus will be on European expansion and solving the invoicing challenges that currently exist within the B2B commerce space.”