UK-based Playter closes $55M round for its BNPL platform aimed at SMEs – Meczyki.Net

There is no shortage of ‘buy now, pay later’ startups in Europe and a quick search is revealing. Berlin-based fintech startup Mondu has raised €39.9 million to expand its B2B BNPL solution. Madrid’s RITMO scored over €184 million. Trench in the UK is launching BNPL into the B2B market with €4 million. Berlin-based Billy raises approximately €86.2 million. the list goes on!

Attacking the B2B/SME market, BNPL is the latest to enter the field platter London based BNPL platform aimed at SMEs. It has now closed a $55 million funding round from Edit Ventures and Fasanara Capital, with Fin Capital and Act Venture Capital and 1818 Ventures also participating. The funding is a mix of equity and debt, but its split what was issued. The investment follows seed funding of $1.7 million in March.

Jamie Beaumont, Founder and CEO of Platter, said in a statement: “BNPL B2C for business is a completely different concept to BNPL. Right now, very few B2B purchases are happening online. Gives businesses total control to determine which payment terms they want, helping them get paid in 6-12 months while their suppliers are still paid within 24 hours. With this superpower, we help businesses that want to operate at scale regardless of market conditions.”

Playter says this allows businesses to have control over payment terms so they can spread the cost of software, agency fees, rent, marketing and other payments over 6 or 12 months. It states that SMEs can access funds within 24 hours from the application.

John Cholak, Managing Partner, Adit Ventures, said: “Platter’s management team, technology platform and customer-first all make for an attractive investment opportunity.”

Francesco Filia, CEO of Fasanara Capital, said: “With funding for early-stage companies coming to an end, Platter brings to the table an innovative and highly flexible funding offering that we believe will greatly benefit the ecosystem”.