VISION AND FUTURE PLAN?
May 25, 2021, SAN FRANCISCO (GLOBE NEWSWIRE) — Today, Resolve revealed that it had raised $60 million in capital to support the expansion of its embedded billing platform for expanding business-to-business (B2B) businesses to make it easier to buy on credit. Resolve, a company that spun off from Affirm in 2019, has shown tremendous demand for B2B buy now, pay later (BNPL) billing for commercial purchases. As per resolve 25m series ksdazevedotechcrunch
Resolve is the sole B2B billing specialist inside BNPL. Resolve streamlines and automates the traditionally complex and risky process of billing and credit-based purchases. With its digital 30-, 60-, or 90-day net terms and credit billing system, B2B buyers and sellers can concentrate on expanding their companies. Affirm, Commerce Ventures, Clocktower Ventures, Haystack VC, Initialized Capital, KSD Capital, and other renowned investors have invested in Resolve. As per resolve 25m series ksdazevedotechcrunch
“B2B payments are about to undergo a digital and e-commerce change. Growing businesses must strike a compromise between meeting the growing need for deferred payments from their commercial clients and their own constrained ability to do so, according to Chris Tsai, CEO of Resolve. “We are delighte to have these investors join us as we address this issue for expanding B2B businesses. These businesses will unlock sales growth and cash flow while reducing risk and effort thanks to this round of equity and asset funding, which will scale our ability to incorporate credit billing.
The epidemic has increased pressure on businesses to adjust to changing customer expectations by hastening the migration to digital B2B payments and e-commerce. In response, distributors, wholesalers, retailers, and customers are upgrading their B2B payment processes and digitizing billing procedures. When pitching to clients who anticipate making purchases on 30- to 90-day net terms, SMB and mid-market enterprises must “fight above their weight.” However, the resources needed to handle the complexity and risk of charging on credit present a challenge for them.
To facilitate growth, boost sales revenue, and optimize cash flow while mitigating risk for the company, Resolve offers digital net terms and a credit billing platform that integrates seamlessly into a B2B company’s existing financial technology stack. This relieves pressure and eliminates it for the company.
B2B payments are being eat up by software. According to Alda Leu Dennis, the general partner at Initialized Capital, B2B “buy now pay later” has existed for thousands of years for companies who trade on credit with one another. “Resolve’s deferred payment billing platform modernizes this time-tested B2B transaction with technology designed for the digital and e-commerce era.”
Will Davis, Managing Director of KSD Capital, said, “We’re pleased to join with Resolve to disrupt traditional forms of B2B credit using technology since Resolve’s embed billing method alters the game.” We made a solid long-term commitment to the buy-side of Resolve’s credit billing platform through our investment in the round. A significant asset class, B2B purchasing, is ready for digital transformation.
Utilizing unique single-click embedding technology, Resolve’s credit billing platform connects with various financial systems without issues. The Resolve platform’s salient features are as follows:
Smart Credit Engine: enables instant credit line decisioning without requiring input from customers by creating a direct sync with a merchant’s real-time data feed of previous payment histories;
When clients are bill on credit, Advance Pay automates 30-, 60-, or 90-day net terms for buyers while making sure merchants are paid right away;
Payment Chaser: relieves merchants of the burden of manually following down unpaid invoices while automating the process of documenting multiple or partial invoice payments. As per resolve 25m series ksdazevedotechcrunch
Payment Portal: Provides B2B customers with a superior embedded bill payment experience so they can quickly pay vendors while establishing their companies’ credit histories with bureaus.