Affirm spinout Resolve raises $60M for its B2B ‘buy now, pay later platform


E-commerce has brought a revolutionary change in the life of modern-day people. Buy now and pay later is the latest trend in the payment world and is offered by various e-commerce companies to their customers. Resolve is a startup, which is headquartered in San Francisco. The company is specialize in providing the services of ‘buy now, pay later’ capabilities for B2B transactions. They have announced that they have raised $ 60 million in funding, combining asset funding and equity. Since launching as a spinout from Affirm in 2019, Resolve says there has been an overwhelming demand for its B2B buy now, pay later billing offering for business purposes.

New York-based global venture capital and private equity firm insight partners led the round with participation from existing investors Initialized Capital, KSD capital, and others. The company is firmly determined to fulfill its rising demand for its service from B2B companies looking to add BNPL into their payment workflows.

Launched as a spinout from Affirm in 2019, Resolve secured a combined $60 million in asset and equity financing in 2021. Resolve says that the pandemic has seen manufacturers, distributors, wholesalers, and purchasers looking to modernize their B2B payment method. Funding has brought a revolutionary change in Resolve’s fate, like many other startups in this world.

Resolve tends to invest in special situations and has been helping organizations across a wide range of businesses for over 15 years. Typically, they invest between $ 1 million – $ 20 million in a single transaction, and they can react quickly and accurately.

Unlike Affirm, Resolve is more focused on B2B transactions and is consumer-focused. Resolve is mainly focused on billing by automating the process of billing and purchasing by credit.

Thus, it can lead to faster invoice payment and, thus, improved cash flow. The company also claims that it can offer extended payment terms with buyers not having to pay any interest or fees if accounts are repaid within the agreed-upon terms. It offers business payment terms ranging from 30 to 90 days.

The company’s main aim is to reduce the complexity for the customers. Their approach of accelerating payments and collections via software and offering payment terms as an ancillary service is an innovative solution. It provides an easy yet effective and efficient way for merchants to improve their entire system of managing receivables and billing on credit.

The company wants to scale the platform. So, they are investing heavily in products and the customer side of the business. Max Levchin was involved in forming Affirm as well as Resolve. Previously, he had also assumed responsibilities as co-founder and CTO at PayPal. Resolve was incorporated into Max’s San Fransisco-based venture studio. Near about 50 employees are currently working in it.

The E-commerce industry is expected to reach $6.0 trillion in 2023, which shows high adoption of e-commerce services among people. E-commerce stores are getting more customers than physical stores. Customer satisfaction leads to the success of E-commerce. Many E-commerce companies are establishing user-friendly online stores.

Resolve also raised $ 25 million in equity funding. Apart from financial support, the company provides extensive knowledge and experience in supporting management teams of businesses in challenging circumstances. The company is focused on acquiring new clients and helping them through its service offerings.

Resolve is on a mission to make health care bills fair. The company announced the completion of a $3.3M seed funding round led by Alleycorp, with additional support from founders of category-defining companies such as Funding Circle, Collective Health, Collective Medical, Nomi, Compass, Seamless and more.

On top of rising inflation and looming recession, 50% of Americans are currently in medical debt. Revolve reviews, negotiates, and lowers medical bills on behalf of patients with expertise on both the insurance and provider date, the company has relieved nearly $20M in medical debt averaging 60-65% savings.

“Our healthcare system is flawed, complex, and difficult for even the savviest consumer to navigate.” Said Braden Pan, CEO, and founder of Resolve. Resolve believes that everyday medical bills should not be an everyday American problem and is building an automated system to fight medical debt. Resolve review and provide hospital and medical bill negotiation services of all kinds to lower the amount you owe and bring you peace of mind.

They have a rich legacy of successfully turning companies around, preserving business value, and saving jobs. With the help of funding raised, affirm is focusing on expanding its business. According to the company, their product and services will result in speedier invoice payment and, as a result, increased cash flow.

Resolve ranks 10th among 116 active companies, which include service Now, Veritas technologies, and Accedian. Resolve is among those companies which had cash in the opportunity during the pandemic. Resolve is among those companies which, among the giants of its field, had earned a unique place for itself.

Its unique methodology of B2B E-commerce is exemplary for many companies. The E-commerce industry is expected to witness lucrative growth in upcoming years and offer lucrative growth opportunities for stakeholders such as e-commerce and payment gateway companies.

E-Commerce indeed has brought a revolutionary change in the lifestyle and thought process of even the middle class in a country like the US. Even in developing nations, its scope is at its peak at the moment. The E-commerce industry is banking on cutting down the service cost and increasing the speed of service delivery.

According to the owner of Resolve Mr. Tsai, like Affirm, that’s very new, and it’s still not very much the norm yet. Tsai feels that the integrated aspect of Resolve’s platform provides it with an advantage because it interfaces with the company’s existing final tech stack. According to a Partner at Initialized capital Mr. Dennis, Resolve’s approach of accelerating payment via software and offering payment terms is a powerful pairing. It provides an easy way for merchants to improve their entire system.

Read also Funding Related Article:-

Series B-Pomelo Investors Make a $35M bet on LatAm Fintech. | Venture Funding Surged To A Record Level At US$ 64 Billion In Q1 | Thrasio Raises $100M For Its Amazon Roll-Up Play, Appoints Retail CFO For Its Next Steps.


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