BNPL provider ViaBill raises $120m in equity and debt
ViaBill, a Denmark-based buy now, pay later (BNPL) provider, has raised $120 million in equity and debt in a funding round led by London-based Fasanara Capital.
ViaBill raises $120m for its BNPL solution
The company is also backed by international venture capital (VC) firms Headline and Blackfin.
ViaBill was launched in 2014, providing its BNPL solution – interest-free payments in instalments – to shoppers in Denmark, Spain, and the US.
“At ViaBill, our goal is simple: we want to provide understandable, affordable, and fully transparent financing to consumers,” the company states.
Jan Lytje-Hansen, CEO and co-founder of ViaBill, says he sees “huge demand” for BNPL that isn’t limited to online stores. Together with Mastercard, the paytech has developed a solution that can be used online or in-store.
“80% of our consumers’ spending happens offline,” explains Lytje-Hansen. “While other large BNPL players like Klarna, AfterPay, and Affirm have successfully infiltrated the online payment space, there’s a lack of BNPL solutions that support brick and mortar shops.
“We solved this. Consumers around the world can download the ViaBill app, enter a limited set of data, and have ViaBill’s advanced credit decision engine immediately evaluate their creditworthiness. If successful, a virtual credit card is issued on the spot which the consumer can push to their wallet and use to pay as usual.”
