Fintex Capital hopes to enable the buy now, pay later boom with DIY SME facility
CEO Robert Stafler wants to help B2B businesses offer their own pay later options.
Enter alternative credit investor Fintex Capital, which today is launching a buy now, pay later (BNPL) credit facility for businesses to offer their own pay later credit options.
Fintex has developed the BNPL products in-house along with the funding line to operate them, which SMEs can now tap into.
The first customer is a London-based luxury interior design studio, which now has a £5m credit line from Fintech for its B2B customers being able to delay payment for up to 12 months after delivery.
“BNPL is opening new horizons, and this is the first-ever BNPL program of its kind,” said Fintech Capital CEO Robert Stafler.
“In B2B land, BNPL is still quite young, and Fintex is leading the way, delivering innovative forms of debt finance to help our borrowers—and their customers—grow their business and unlock value.”
We’ve seen growing interest in buy now, pay later options for SMEs in the last few months, both Funding Circle and Iwoca have launched products, although these are mainly focused on helping spread the cost of large purchases.
Fintex’s offering is unique as it’s aimed at enabling businesses to become pay later providers and offer their own options for customers and clients.
Stafler says that Fintex has a pipeline of other pay later facilities being set up, and the BNPL program is also open to new businesses.