Danish Fintech firm Anyday has secured €4 million in capital via a seed round in order to bring its split payments (Buy Now, Pay Later) BNPL-style service to Scandinavia.
Anyday’s split payment concept allows consumers to divide the cost of a purchase into four manageable payments, with 25% of the amount being paid up front, without any extra fee or interest and a high credit line.
Over 1000 online merchants in Denmark have reportedly joined Anyday, with approximately 20,000 clients using the service.
Now, the Fintech firm is looking to spread across the Nordic nations and to move into physical stores, via a virtual card and an app.
Jonas Overgaard, CEO at Anyday, stated:
“We want to become an omni-channel service for our merchant partners not limited to webshops only, but also as a payment alternative at in-stores to give the merchants the opportunity to offer more payment solutions.”
At Anyday, their mission is to “make splitting payments simple, transparent, and free. Yes, free. No interest rates, no subscription, no fees.”
The company also mentions that with their service, “what you see is what you pay.”
They want to “give consumers freedom, security, and, flexibility when they shop with Anyday online.” They know that their industry has “developed a bad reputation, but [they] want to change that.” The keywords they work by “are fairness, decency, and transparency.”
It’s worth noting that BNPL services have become increasingly popular during the past few years, however, these flexible payment plans are not always the best idea. Many consumers may not carefully review the terms and conditions and then find themselves in a situation where they are unable to make scheduled payments.
These types of situations are quite similar to what happens when using more traditional credit card payment options. That’s why it’s best to always use your own judgement when making purchases and effectively managing your finances.