Billink, an innovative Dutch after-sales payment solution for online retailers has recently secured €1 million from Rabo & Crowd. Out of €1 million, Rabobank injected €300,000, while the remaining €700,000 are attracted through Nxchange, an SME market where entrepreneurs outside the bank can raise money by placing shares or bonds.
For the unknown, Rabobank and online exchange platform Nxchange have jointly established Rabo & Crowd. This platform provides SMEs access to a new form of financing, whereby a bank loan from Rabobank is combined with money from (private) investors. Having said that, the required capital was raised through bonds, thus no shares are involved.
It’s all about ‘Postpay’
Billink offers the customers of online shops, the possibility of paying afterwards. With ‘postpay’ you order the product first and pay afterwards within 14 days. Based out of Rotterdam, more than 2500 online shops are offering the possibility to pay with Billink afterwards.
How does Billink work?
When you choose the payment option ‘pay in arrears’, Billink performs a credit check. If it is accepted, your order will be completed and you will receive an invoice from Billink by email. However, this must be paid within 14 days.
In case, if your application got rejected, you check out with another available payment method or cancel your order.
10 to 30% increase in turnover!
According to the company, offering the after-sales payment solution results in an average turnover increase of 10 to 30 per cent. On the whole, Billink offers you a proper service from invoicing to collection and risk hedging
Expect 80% growth in 2019
The company also expects around 80% growth this year compared to 2018 and wants to hold a dominant position within five years in the area of post paying within the B2B and B2C market. According to the company, lots of visitors are opting for postpay and in those cases, Billink takes over the entire payment process.
Niels de Peuter, General Manager of Billin, said:
Over the past few weeks we have been able to see that the Rabo & Crowd platform offers a great solution to fast-growing companies. With the financial scope that we have obtained, we can serve our connected webshops even better and thus maintain the growth we have in mind.
Marcel Gerritsen, Strategy & Innovation Manager at Rabobank Companies, said:
The good result for Billink is very satisfying and proves that there is interest from private investors. We, therefore, expect that we will soon be able to develop this form of financing for more Rabobank clients and will continue this pilot at full strength.
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