Dutch buy now, pay later (BNPL) fintech in3 has raised $11.1 million in a Series A funding round led by Finch Capital and has also announced a partnership with Worldline.
In3 intends to use the capital raised to build out its technology platform further and to make some strategic hires across the entire team.
Meanwhile, the BNPL fintech’s new partnership with global digital payments provider Worldline will enable it to offer online and offline customers free BNPL services, starting in the Netherlands.
Through the partnership, in3 will provide Worldline with a “technology stack” that will allow both online and offline merchants, that are part of the Worldline network, “to offer BNPL payment services to its customers without additional integrations”.
According to in3, BNPL payment in the Netherlands is forecast to grow by 74.8% this year, to reach $7.6 billion.
Hans Langenhuizen, CEO of in3, said: “We will be supporting Worldline’s merchants by enabling them to offer BNPL to consumers at no fee. We look forward to working with their team and customers.
“This is testament to the robust platform of in3 and our dedicated team to create seamless integrations with all our partners.”
Amsterdam-based in3 was founded in 2018 and works with payment service partners to offer consumers the ability to pay for purchases in three instalments at zero cost.
“in3 was our honest approach to offer BNPL to consumers without costs, which effectively allowed people to pay in three instalments within 60 days, with 0% interest,” added Langenhuizen.
“Because of the term of 60 days, a registration in the credit registers is not required. This gives the consumer the possibility to buy what they want, instead of compromising on quality products.”
Radboud Vlaar, managing director of Finch Capital, said: ‘’in3 has demonstrated a steady and consistent growth trajectory due to its strong technological capabilities and management, which has enabled it to provide BNPL to Dutch consumers through integrations with payments providers. The company is enabling a truly omnichannel payments solution.’’