SAN FRANCISCO – May 25, 2021 – Resolve announced today that it has raised $60 million in funding to fuel the growth of its embedded billing platform for growing business-to-business (B2B) companies to facilitate buying and selling on credit. Launched as a spinout from Affirm in 2019, Resolve has seen overwhelming demand for B2B buy now, pay later (BNPL) billing for business purchases.
Within buy now pay later, Resolve exclusively focuses on B2B billing. Resolve simplifies and automates the notoriously complex and risk-laden process of billing and purchasing on credit. Its digital 30-, 60-, or 90-day net terms and credit billing solution frees up B2B sellers and buyers to focus on growing their businesses. Investors in Resolve include Initialized Capital, KSD Capital, Haystack VC, Commerce Ventures, Clocktower Ventures, Affirm and other top investors.
“Digital and e-commerce transformation is coming for B2B payments. Growing companies must balance heightened demand for deferring payments from their business customers with their own limited capacities to satisfy that demand,” said Chris Tsai, Resolve’s CEO. “We are thrilled to have these investors join us as we solve this challenge for growing B2B companies. This round of equity and asset funding will scale our ability to embed credit billing for these businesses to unlock sales growth and cash flow while minimizing risk and effort.”
The pandemic accelerated the shift to digital B2B payments and e-commerce, increasing pressure for companies to adapt to evolving customer expectations. Manufacturers, distributors, wholesalers and their purchasers are responding by modernizing their B2B payment methods and digitizing billing operations. SMB and mid-market companies especially need to “punch above their weight” when selling to customers who expect to buy on 30- to 90-day net terms. However, they struggle with the resources required to manage the complexity and risk of billing on credit.
Resolve eliminates this pressure by providing a digital net terms and credit billing platform that integrates seamlessly into a B2B company’s existing financial technology stack to facilitate growth, increase sales revenue, and optimize cash flow while removing risk for the company.
“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,” said 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.”
“We’re excited to partner with Resolve to disrupt traditional forms of B2B credit with technology, as Resolve’s embedded billing approach changes the game," said Will Davis, President & Managing Director of KSD Capital. “Our investment into the round represents a significant long-term commitment to the buy-side of Resolve’s credit billing platform. B2B purchasing is a massive asset class that’s ripe for digital change.”
Resolve’s credit billing platform integrates seamlessly with other financial systems using proprietary single-click embedding technology. Key features of the Resolve platform include:
- Smart Credit Engine: creates a direct sync with a merchant’s real-time data feed of past payment histories to enable immediate credit line decisioning with no input required from buyers;
- Advance Pay: automates 30-, 60-, or 90-day net terms for buyers while ensuring merchants are paid immediately when billing customers on credit;
- Payment Chaser: eliminates the pain of manually chasing invoices while automating the reconciliation work of recording multiple or partial invoice payments for merchants;
- Payment Portal: offers a superior embedded bill payment experience for B2B customers to easily pay vendor bills while building their business credit history with bureaus
Resolve removes the complexity and risk of offering extended payment terms, enabling hassle-free customer billing and payments. Buyers pay no interest or fees if accounts are repaid within the agreed-upon terms. Merchants receive full payment, less fees, as soon as an order is placed. This automated, aggregated approach puts merchants back in control of their billing and cash flow.
To learn more about how Resolve can increase B2B sales, enable seamless credit checks and approvals, improve cash flow, and reduce financial risk, please visit https://resolvepay.com/.
Resolve is a complete digital net terms and credit billing solution that extends buy now pay later capabilities for B2B transactions. Designed for growing B2B companies, Resolve eliminates the headaches and risk of managing traditional credit decisions, automating underwriting and 30-, 60-, or 90-day net terms to maximize revenue and speed up invoice payment. With Resolve, merchants can scale a modern payments and billing experience without the expense or risk. For more information please visit www.resolvepay.com and follow us on twitter.com/resolvepay.