Tillit, a fintech startup that is constructing something akin to acquire now, pay back later for B2B buys , appears to be like set to become Sequoia’s future European expenditure, TechCrunch has learned.
According to many resources, the Silicon Valley VC — which lately expanded to Europe with an office in London — is backing a €2.5 million round in the Oslo, Norway-based mostly business, along with seed traders LocalGlobe and Visionaries Club. Sequoia and LocalGlobe declined to comment.
With the tagline, “Making b2b buys a breeze” and nonetheless to start, Tillit seems to blend bill funding with a invest in now, pay out afterwards design, indicating that credit score is available at the position of checkout (or invoice), with a quantity of payment selections, like instalments. In addition, Tillit offers bills administration, with a vary capabilities to make it much easier for workforce to make B2B purchases.
In other terms, the premise is that sellers get far better conversions through giving quick credit history, and consumers can defer or unfold out payments and have increased command and visibility in excess of buys.
In the meantime, Tillit is not the 1st investment decision in Europe by Sequoia considering the fact that it exposed that it was doubling down on Europe with a focused staff on the floor. Most just lately, the business led a $20 million spherical in Xentral, a German startup that develops enterprise resource arranging software program covering a wide variety of again-place of work functions for on-line smaller businesses. That speaks to Sequioa’s remit to “invest throughout the journey,” from pre-seed/seed all the way to IPO and over and above.