Playter, a London-based outfit bringing buy now, pay later to the B2B space, has raised $1.7 million in a seed funding round co-led by Fin Capital and 1818 Ventures.
Playter promises to help SMEs reduce their burn rate by paying for professional services invoices in instalments.
Launched last year, the platform allows businesses to unlock up to £300,000 with no interest costs or revenue sharing with a subscription fee starting at £550 per month.
The company says it has grown over 1000% in size and revenue in recent months and is using the capital injection to sustain growth.
Jamie Beaumont, CEO, Playter, says: “Accessing funds for businesses can be a painful, complex and time consuming experience, but we’re here to fix that.
"Our subscriptions offer clients access to easy, fast and affordable funding to spread their services into manageable payments. We’re helping businesses increase their liquidity and stretch their cash flow further and for longer.”