Playter, a buy now – pay later (BNPL) provider, has raised $55 million in both debt and equity. Playter did not disclose the split between equity and debt capital. Playter recently raised $1.7 million in seed funding to boost its services in the UK along with “international ambitions.” The funding was led by Adit Ventures and Fasanara Capital with the participation of Fin Capital, Act Venture Capital and 1818 Ventures.
Jamie Beaumont, founder and CEO of Playter, explained that BNPL for businesses is completely different than B2C:
“We’ve created a platform that gives total control for businesses to dictate what payment terms they want to have, helping them pay over 6-12 months, whilst their suppliers are still paid within 24 hours. With this superpower, we help businesses that want to scale regardless of the market conditions.”
Beaumont said the ability to take advantage of discounts as well as smoothing out cash flow can be invaluable in challenging times.
Playter enables SMEs to apply for credit in just five minutes and access funds in 24 hours and business owners keep full control.
Jon Cholak, managing partner at Adit Ventures, commented:
“Adit sees in Playter a unique SME-focused BNPL platform that helps growing companies better manage their working capital.”
Based in London, Playter launched in 2021.