Balance emerges from stealth & unveils digital checkout platform for B2B businesses
By Pavithra R
Balance, a B2B payments experience company has announced the official launch of a self-serve digital checkout platform to transform the online payments experience for B2B companies.
The platform leverages state-of-the-art payments and risk-assessment technology to enable merchant, marketplace or SaaS company that sells goods and services online and offline to offer their buyers a wide array of payment methods and terms, and get paid instantly.
“B2B online payments, and E-commerce specifically, far outpace their counterparts in B2C. Yet, the digital experience lags behind, creating missed opportunities for growth. Most online business purchases today are made via credit card, while transactions via the preferred methods for most businesses — like wires, checks, and ACH — remain offline. This is because the process is incredibly challenging, often involving offline quotes and invoices, multiple phone calls and emails, and long payment delays. Balance manages all of this complexity behind an elegant checkout experience and makes offering flexible payments methods and terms as easy as using a credit card,” said Bar Geron, CEO and co-founder, Balance.
“We initially set our sights on offline businesses looking to make the shift to digital, but quickly realized that even tech companies with self-serve products and services wanted a way to offer their customers flexible payments and terms. We’re excited at the early momentum we’re seeing, and this round of financing will help us accelerate product innovation and adoption of the Balance platform worldwide,” added Bar.
Key features and benefits of the Balance platform include:
- Consumer-Grade Business Checkout: Offers buyers an enhanced business payment experience.
- Automatic Collection, Reconciliation and Settlement: Offers buyers the ability to pay by check, credit card, bank wire, or ACH, and receive a single consolidated payout from the Balance platform.
- Vendor Payout Control: Offers support for B2B marketplaces, services and software companies to automatically onboard and payout vendors.
- Instant, Automated Financing: Offers buyers flexible terms, with instant payouts.
- Developer Ready: Offers Robust APIs to bolster the payments toolkit with B2B-specific payment capabilities.
“I am pleased that my partners at SciFi have chosen to support Balance as Bar and his team prepare to accelerate their go-to-market efforts. Excited for what their innovative digital checkout platform will bring to the B2B payments space,” said Max Levchin, co-founder of Affirm and PayPal, and partner in SciFi VC.
Balance is the first self-serve digital checkout platform for B2B businesses. Its investors include Lightspeed Venture Partners, Stripe, Affirm and PayPal co-founder Max Levchin of SciFi VC, Y-Combinator and UpWest.
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