Payments Company Resolve Secures $25 Million in Funding
The firm aims to meet the rising demand for B2B BNPL solutions.
Resolve, one of the fastest-growing payment startups, announced today that it has secured $25 million in strategic equity funding. The recent financing was led by New York-based global venture capital and the private equity firm, Insight Partners.
Resolve highlighted that the latest funds will be used for the expansion of its platform and team. The company is planning to meet the growing demand for embedded business-to-business Buy Now Pay Later (BNPL) solutions.
In addition to Insight Partners, the funding round saw participation from existing investors Initialized Capital, KSD Capital, Haystack VC, Commerce Ventures and Clocktower Ventures. Earlier this year, Resolve announced a combined $60 million asset and equity financing.
“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, Resolves 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.”
BNPL Ecosystem
Buy Now Pay Later (BNPL) market has gained immense popularity in the last few years. As a result, several leading financial organizations are planning to enter the market either through acquisitions or expansion of their existing infrastructures. In August 2021, Square, a leading global financial services firm, announced its plan to acquire Australias BNPL solutions provider Afterpay.
Resolve aims to provide innovative BNPL solutions to the B2B sector. “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.”
