Dutch B2B-payment fintech becomes part of the Luxembourg credit institution group. It aims to reach full European coverage within the next 2 years.
Biller, an AI-driven buy-now-pay-later startup specialising in business invoicing, has been acquired by Banking Circle, a Luxembourg-based online credit institution, both companies announced in a press release.
Headquartered in Amsterdam, the fintech offers a B2B payment method based on artificial intelligence technology, that allows business buyers to make online purchases on invoice quickly and securely.
The application allows direct payments on invoice while performing real-time credit and fraud checks and provides a fully automated debtor management service.
The application “reduces the operational burden and risk for the business seller while offering speed, flexibility and convenience for the business buyer e.g. by offering the buyer flexible payment terms,” the press release explains.
Biller will continue to operate autonomously as an independent sister company of Banking Circle group.
Thanks to the latter’s ecosystem, the fintech will benefit from immediate access to important technology infrastructure, financial resources, payment rails and licenses to accelerate its expansion.
Following the acquisition, the company will grow in the UK, Germany, Belgium and in the Nordics markets by the first half of 2022.
It aims to reach full European coverage within the next 2 years and to grow its staff base from 15 to more than 150 employees this year.
Founded in 2021, Biller claims a total transaction value in Europe estimated at €600 billion.
Banking circle specialises in online banking services including accounts, lending, international payments and settlements, FX and compliance solutions to bank and payments businesses and to their end-customers.
The company is headquartered in Luxembourg and supervised by the Commission for the Financial Sector, the country’s regulator. It operates offices in the UK, Germany, the Netherlands and Denmark.
