Deferred payments have the potential to be advantageous for both B2B enterprises and their customers. Investors concur as well, with B2B platforms that allow for buy now and pay later—like Player and Montagu—recently earning eight-figure financing rounds.
But because of their complexity and the dangers involved with credit conditions, some businesses are still wary of deferred payments, according to research from fintech company Fluid, which is based in Singapore.
With its platform, which helps companies to get paid more quickly and give their clients flexible payment alternatives, the company hopes to address this problem.
Recently, Fluid completed a series A investment sponsored by Insignia Ventures Partners, raising US$5.2 million. With the money, it hopes to grow its engineering and risk departments as well as add more major suppliers to its platform.
Early in 2023, CFO Ruoyun Yang, CPO Steven Li, and CEO Trasy Lou Walsh formed the startup. Together, their backgrounds from Atome, Uber, Coupang Pay, Lendable, and the International Finance Corporation are brought to the table.
Walsh stated in a statement that suppliers can use Fluid to avoid dealing with debt providers, undergoing credit checks for buyers, and hiring a big crew for settlement and reconciliation.
With this latest funding round, Fluid has now raised $7 million in total. Iterative and New Stack Ventures provided US$1.8 million in initial funding earlier.
Yinglan Tan, the founding managing partner of Insignia Ventures, pointed out that B2B payments continue to be a typical problem for many companies, irrespective of their industry or stage of development.
“With flexible integrations, proprietary credit risk management, and instant settlement, Fluid is the first to tackle this challenge with a truly customer-centric approach, leveling up the payment experience for both suppliers and buyers,” stated Tan.
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