- Resolve recently announced it raised an additional $25 million in strategic equity funding. These are the details.
Resolve recently announced it raised an additional $25 million in strategic equity funding to meet rising demand from business-to-business (B2B) companies seeking to simplify their net terms payments and embed B2B buy now, pay later (BNPL) solutions into their payment workflows. Originally launched as a spinout from Affirm in 2019, Resolve previously announced a combined $60 million asset and equity financing in early 2021.
This new funding round will be used to further expand its platform and team to serve the growing list of B2B companies using Resolve to facilitate net terms payments overall and throughout their supply chains. And the funding round was led by Insight Partners with participation from existing investors Initialized Capital, KSD Capital, Haystack VC, Commerce Ventures, and Clocktower Ventures.
Resolve simplifies and automates the notoriously complex and risk-laden process of billing and purchasing on a credit account. And the company’s digital 30-, 60-, or 90-day net terms-as-a-service and embedded BNPL payment solutions free up B2B sellers and buyers to focus on growing their businesses. During the pandemic, manufacturers, distributors, wholesalers, and their purchasers increasingly turned to Resolve for help modernizing their B2B payment methods and net terms billing workflows.
Resolve’s net terms-as-a-service and embedded BNPL platform integrates seamlessly into a B2B company’s existing financial technology stack to facilitate growth, increase sales revenue and optimize cash flow while eliminating risk for the company. And this removes the complexity and risk of offering extended payment terms, enabling hassle-free customer billing and payments.
Buyers do not pay interest or fees if accounts are repaid within the agreed-upon terms. And merchants receive full payment, less fees, as soon as an order is placed. This automated, embedded approach puts merchants back in control of their customer relationships and cash flow.
KEY QUOTES:
“The market for simplifying net terms payments and embedding BNPL payment options is exploding as companies work to mitigate the pain of payments caused by overextended and snarled supply chains. With this infusion of funds, we can capitalize on our market leadership position and rapidly scale to serve the many new types of companies looking to offer net terms and BNPL to their business customers, while unlocking cash flow and growing with minimal risk and effort.”
— Chris Tsai, Resolve’s CEO
“The demand for embedded B2B payment options with net terms has skyrocketed as businesses must universally cater to customers accustomed to consumer-style payment and credit options, and to a new supply chain reality dominated by extended or delayed delivery times. Resolve provides an elegant, embeddable net terms payment experience that simplifies the complexity of meeting those customer needs with minimal risk and hassle.”
— Rebecca Liu-Doyle, principal at Insight Partners
