Banking Circle buys fintech startup Biller

Biller, a merchant payments startup, is being acquired by the Luxembourg fintech platform Banking Circle. The Amsterdam fintech company believes it will be able to accelerate its rollout in Europe in this way. Rapid expansion in the UK, Germany, Belgium and Denmark is planned for the first half of this year.

Thanks to the collaboration with Banking Circle, Biller has a banking license, which is essential to be active in Europe. The payment platform hopes to achieve this goal in less than two years.

The Banking Circle Group offers Biller direct access to technological infrastructure, financial resources and the necessary licenses. The Luxembourgers acquire a majority stake.

Biller allows online business buyers to pay directly on the invoice. Currently, this is often only possible after a thorough credit check, a process that can take days. Biller has developed a payment method based on artificial intelligence (AI). The software works with an API integration in the payment process. Biller performs credit and fraud checks in real time, while accounts receivable management is fully automated. This reduces the operational burden and risks for the business seller. The advantages for the buyer are speed, flexibility in terms of payment and convenience.

Biller, founded in April of last year, got off to a whirlwind start. Thanks in part to the collaboration with the European risk study Slimmer AI, the company was operational with several clients in three months. Founders Derek Vreeburg, Uwe van Rensburg and Mick Gromotka know each other from Klarna, the Swedish fintech company that enables consumers to shop with an invoice. General Manager Vreeburg also worked for Mollie as business manager for three years.

Vince Fernandez

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