Dutch buy now, pay later outfit in3 has raised $85.3 million in debt and equity and struck a deal with payments firm Mollie to bring its services to more merchants.
The latest funding round comes from the British VC Force over Mass, US institutional asset manager Waterfall Asset Management and Dutch investor Finch Capital. It follows an $11.1 million raise in March and takes the total funding raised to $96.4m.
In3 was established in 2018 by a team that had been a part of the early BNPL wave in the 2010s. It allows customers to pay for goods over three payments within 60 days with zero per cent interest and without credit registration.
The firm says revenue has increased 300% year-on-year since launch, with partner merchants such as Kwik Fit, EP, La Souris, Matt sleeps and Dekbed-Discounter signed up.
Hans Langenhuizen, CEO of in3 comments: “We will be expanding further in the Netherlands through the partnership with Mollie and plan to launch in Germany soon. Over the past year, we have invested in our tech stack and team to prepare for the next phase of the business. The new funds will help us process transactions on a larger scale, both online and in the physical stores.”
Through the partnership with Mollie, in3 will now be offered to millions of consumers via almost every payment service provider in the Netherlands. Mollie supports more than 130,000 merchants in selling and growing their business online.
Langenhuizen says: “Mollie accounts for a large share of the online payment traffic in the Netherlands. We already have healthy partnerships with various payment service providers, including Worldline, making it very easy for merchants to offer our product. An important part of the landscape that we were missing was Mollie.”