Aria, a Fintech based in France that is a payments and credit platform, has raised €15 million in funding, according to a note from the company.
13books Capital led the funding round with the participation from Adevinta Ventures, Otium Capital, Ankaa Ventures, and individual investors, including Laurent Ritter, Mark Ransford, and Guillaume Princen
Aria specializes in B2B payments, providing a credit option to speed up the payments. The company states that B2B payments is a $120 trillion market globally but a mere 7% is currently handled online.
Aria founder and CEO Clément Carrier says they have solved a big problem for smaller firms – like freelancers. Most online business purchases take place with credit, while many payment offerings remain offline. Think checks and wires via banks.
“This is because the process is incredibly challenging, often involving offline quotes and invoices, multiple phone calls and emails, and long payment delays. Aria manages all of this complexity behind a slick checkout experience and makes offering flexible payments methods and terms as easy as using a credit card,” said Carrier. “The truth is that innovation in B2B commerce payments has lagged far behind the B2C space. We want to modernise wide-ranging aspects of how B2B commerce is conducted in the digital age.”
Aria allows for immediate payments that may also include differed remuneration enabled by their API. Aria offers businesses a checkout experience similar to B2C users that also incorporates, KYC/KYB, debtor risk analysis, anti-fraud analysis, credit insurance, and debt recovery.
Aria was founded in 2019 by Carrier and Vincent Folny, ex-freelancers themselves. The two understood the challenges of slow payments and the strain it can put on a small business. Today, Aria claims to be the leading provider of deferred payments for the “contingent workforce platforms in Europe.”
Aria reports having processed half a billion Euros in payments during the last 12 months. The company recently launched services in the UK.
Regarding credit, Aria is supported by a €150 million facility from several investors, including M&G Investments. Aria has also partnered with large freelance platforms and marketplaces such as Malt, Brigad, and Jump.
Carrier adds that while B2C payment volume is only 1/5 of the size of B2B payments just 7% of these transactions are completed online. With Aria’s tools, companies can process any payment method, offer flexible net terms financing, and get paid instantly.