Resolve, a San Francisco, CA-based provider of an embedded billing platform for business-to-business (B2B) companies to facilitate buying and selling on credit, raised $60m in funding.
Investors included Initialized Capital, KSD Capital, Haystack VC, Commerce Ventures, Clocktower Ventures, Affirm and other top investors.
The company intends to use the funds to accelerate operations and its business reach.
Launched as a spinout from Affirm in 2019 and led by Chris Tsai, CEO, Resolve is a complete digital net terms and credit billing solution that extends buy now pay later capabilities for B2B transactions. Designed for B2B companies, the system automates underwriting and 30-, 60-, or 90-day net terms to maximize revenue and speed up invoice payment.
Key features of the system 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: automates 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.
The credit billing platform integrates with other financial systems using proprietary single-click embedding technology.
FinSMEs
25/05/2021
About Resolve
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Carey Godbee
Cosmo PR
760/536-3614