|[December 09, 2021]|
SAN FRANCISCO, Dec. 09, 2021 (GLOBE NEWSWIRE) — Resolve announced today that it has 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. Launched as a spinout from Affirm in 2019, Resolve previously announced a combined $60 million asset and equity financing in early 2021.
These new funds 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. The funding round was led by New York-based global venture capital and private equity firm Insight Partners, with participation from existing investors Initialized Capital, KSD Capital, Haystack VC, Commerce Ventures and Clocktower Ventures.
“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,” said Chris Tsai, Resolve’s CEO. “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.”
Resolve simplifies and automates the notoriously complex and risk-laden process of billing and purchasing on a credit account. Its 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. Throughout the pandemic, manufacturers, distributors, wholesalers and their purchasers increasingly turned to Resolve for help modernizing their B2B payment methods and net terms billing workflows.
Increasingly, a wider range of companies have also bgun to embrace digital B2B BNPL as an easier, less-risky way to offer net terms to customers who expect to pay later. Further, buyers and sellers are relying on modern, convenient credit options like B2B BNPL to extend payment terms while navigating global supply chain disruptions.
“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,” said Rebecca Liu-Doyle, principal at Insight Partners. “Resolve provides an elegant, embeddable net terms payment experience that simplifies the complexity of meeting those customer needs with minimal risk and hassle.”
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. This removes the complexity and risk of offering extended payment terms, enabling hassle-free customer billing and payments.
Buyers pay no interest or fees if accounts are repaid within the agreed-upon terms. 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.
To learn more about how Resolve please visit https://resolvepay.com/.
Resolve is a complete net terms-as-a-service and embedded BNPL payment solution that extends buy now pay later capabilities for B2B transactions. Designed for growing B2B companies, Resolve eliminates the headaches and risk of managing traditional credit decisions, automating underwriting and 30-, 60-, or 90-day net terms to maximize revenue and speed up invoice payment. With Resolve, merchants can simplify their B2B payments and add BNPL payment options without the complexity or risk. For more information, please visit www.resolvepay.com and follow us on twitter.com/resolvepay.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
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