...B2B payments is a massive market measured in the tens of trillions globally, which is perhaps one reason why Balance has an all-star fintech investing syndicate behind its seed round. It raised $5.5 million from Tal Morgenstern of Lightspeed, Stripe and Nellie Levchin through SciFi VC. Lightspeed previously backed Affirm, which was founded by Nellie Levchin’s husband, Max Levchin.
Balance offers efficient B2B payments that allows merchants to offer a variety of payment methods including ACH and bank wires as well as a variety of payment terms including payment on delivery, net payment terms, and payment by milestone. Behind the scenes, Balance underwrites the terms of those transactions requiring financing by evaluating the risk of the customer, the merchant and the specific payment terms selected. Balance is built on top of Stripe and offers all of Stripe’s credit card payment options, but then extends far beyond them.
Read the full article on TechCrunch. Published on February 3, 2021
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