Balance, developer of the Israeli B2B digital self-service exit platform, has emerged from undercover and announced the closure of a $ 5.5 million funding round from Stripe, Affirm, PayPal, co-founder Max Levchin, Y-Combinator, and LightSpeed Ventures. Balance’s self-service digital payment platform seeks to transform the online payment experience for B2B companies by leveraging payments and risk assessment technology. With the Balance platform, any SaaS merchant, marketplace, or company that sells goods and services both online and offline can now offer buyers a wide range of payment methods and terms, and get paid instantly, using one platform. Bar Geron, Co-founder and CEO of Balance, said, “B2B online payments, and e-commerce specifically, far outweigh their B2C counterparts. However, the digital experience lags behind, creating lost opportunities for growth. Most business purchases are done via The internet today is via credit card, while transactions via most businesses’ preferred methods – such as wire, checks and ACH – remain offline.This is because the process is extremely difficult, and it often includes offline quotes and invoices, multiple phone calls and emails. “The credit manages all this complexity behind an elegant payment experience and makes introducing flexible payment methods and terms no less than easy than using a credit card.” “We initially set our sights on offline companies looking to digitize, but quickly realized that even tech companies with self-service products and services wanted a way to offer flexible payments and terms to their customers. We’re excited at the early momentum we’re seeing,” he added. This round of financing will help us accelerate product innovation and adopt the Balance platform worldwide. ” Posted by Globes, Israel business news – en.globes.co.il – February 4, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
The balance of the Israeli B2B payments company collects $ 5.5 million
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