FinTech Biller announces their acquisition and joins the Banking Circle ecosystem

Biller, the Buy Now Pay Later (BNPL) startup for B2B payments, today announced it has joined the Banking Circle ecosystem and will benefit from immediate access to important technology infrastructure, financial resources, the necessary payment rails and licenses to accelerate its Europeanexpansion.

The acquisition by Banking Circle, a global leader in the provision of financial infrastructure, gives Biller a significant edge in several areas. Essential for quickly achieving European coverage, the innovative startup will have access to fronting banking services and account infrastructure while Banking Circle will also fully support Billers ambitious growth plans.

Combining the speed of a start-up with the experience of a market leader, the Amsterdam-based FinTech will leverage the global network of more than 200 payment companies, banks and marketplaces in the Banking Circle ecosystem.

Next generation of instant business invoice payments

The new generation of B2B buyers expect a fast and flexible payment experience, similar to that of a consumer when purchasing online. Every barrier in the process is one too many. Currently, it is often only possible to buy on invoice after a lengthy credit check, a process that can take several days.

Biller offers an AI-driven payment method that allows business buyers to order online and pay directly on invoice while performing real-time credit and fraud checks and a fully automated debtor management service. Thereby Biller reduces the operational burden and risk for the business seller while offering speed, flexibility and convenience for the buyer e.g. by offering flexible payment terms.

The B2B e-commerce market is changing rapidly. According to Goldman Sachs, B2B is the next untapped market opportunity for the payments industry and is expected to become 5x greater in volume than in retail payments by 2028.

Biller continues rapid growth with Banking Circle

The FinTech start-up was founded by three former managers of Mollie and Klarna, together with Dutch venture studio, Slimmer AI. Leveraging their many years experience in the online payment industry, the Biller founders were operational and live with their first customer in just three months.

Biller will now embark on a fast European-wide expansion, covering the UK, Germany, Belgium and Nordics in the first half of 2022. Full European coverage will be reached within 12-24 months. Biller will continue to operate autonomously and aims to grow from 15 to more than 150 employees this year.

“We are thrilled to join one of the most innovative and fast-growing FinTech businesses in Europe. This massively increases our chances of rapidly conquering the European market,” said Derek Vreeburg, Managing Director and founder of Biller. “From the first meeting, we were impressed by the quality of the services offered by the Banking Circle 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.”

“Biller’s in-depth knowledge of the BNPL industry and its ability to implement and adapt the convenience of the consumer payment experience to the B2B space is truly impressive,” said Anders la Cour, Chief Executive Officer of Banking Circle. “As companies accelerate the digitisation of their customer and supply-chain interactions, there’s a growing need for modern-day financial solutions. The Banking Circle ecosystem is growing its propositions rapidly to meet this demand. Biller is a natural extension of the suite of offerings in the ecosystem and we’re excited to have the company on board, to serve the ever-growing payment needs of businesses worldwide. We look forward to working closely with Biller and welcome the entire team to the Banking Circle ecosystem.”