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Dutch BNPL Billink raises €29.5m to take on Klarna

The fintech will expand to Germany and broaden its range of shops on offer with the new funds

Billink

Billink

Netherlands-based ‘buy now, pay later’ (BNPL) Billink has secured €29.5m from German Varengold Bank.

The payments provider, which has amassed three million users since launching in 2012, describes itself as a ‘local hero’, operating in Belgium, the Netherlands and Luxembourg.

It was founded in 2009 and launched BNPL in 2012 and now more than 3,000 web shops offer its payment service.

“We have been active in the payment market in the Benelux for over a decade and understand the challenges of our web shop owners,” Billink CEO Frank Waagmeester said.

“We see this reflected in, among other things, a high customer retention and satisfaction score and a 4.7 Trustpilot rating, the highest in the market. With this great foundation, we are ready to take the next step.”

The fintech will use the funding to expand to Germany and increase its offering to the top-50 largest Benelux web shops, as it aims to make shopping online fairer by providing both users and shops the same level of assurance as they have in in-person transactions.

“Offline, a consumer is used to paying only after receiving a service or product. Online, you pay in advance, just assuming that everything goes well and your purchase is to your liking. We think that's unfair,” Waagmeester said. 

“We are now working on Billink Check-out 2.0, which makes the customer experience even more personal and helps web shop owners further optimise conversion.”

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