Resolve has raised $60 million to grow its embedded billing platform for business-to-business (B2B) companies.
Based in San Francisco, Resolve was spun out from buy now, pay later (BNPL) company Affirm in 2019 to focus exclusively on B2B billing. It says that it has since seen “overwhelming demand” for its offering.
Chris Tsai, Resolve’s CEO, explains: “Growing companies must balance heightened demand for deferring payments from their business customers with their own limited capacities to satisfy that demand.”
Resolve says it “simplifies and automates the notoriously complex, expensive, and risk-laden process of billing and purchasing on credit”.
Its flagship offering is a digital 30-, 60-, or 90-day net terms and credit billing solution that “integrates seamlessly” into a B2B company’s existing financial technology stack using proprietary single-click embedding technology.
Investors in the round include Initialized Capital, KSD Capital, Haystack VC, Commerce Ventures, Clocktower Ventures, and others.
“Software is eating B2B payments. B2B buy now, pay later has been around for thousands of years for businesses who buy and sell on credit from one another,” comments Alda Leu Dennis, general partner at Initialized Capital.
“Resolve’s billing platform for deferred payments modernizes this timeless B2B transaction with technology that’s built for the digital and e-commerce era.”
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