Balance, a digital checkout platform for B2B businesses, has raised $25 million in Series A funding led by Ribbit Capital with participation from Stripe.Avid Ventures, Lightspeed Ventures, Y Combinator Continuity Fund, SciFi VC and UpWest and a host of early employees and executives from Square, Plaid, Coinbase, Stripe, and PayPal joined the round.
Balance officially launched its self-serve digital checkout platform earlier this year, vowing to transform the online payments experience for B2B companies, bringing an Amazon-like experience.
The platform lets any merchant, marketplace or SaaS company that sells goods and services online and offline offer their buyers a wide array of payment methods and terms, and get paid instantly.
Balance says users get a payment experience that is as convenient as consumer checkout, automatic collection, reconciliation and settlement, instant, automated financing, and APIs for developers.
The startup is already partnering with e-commerce giants like BigCommerce, as well as Magento, leading B2B e-commerce agencies, and soon to include Salesforce.
Bar Geron, CEO, Balance, says: “Global B2B trade being done mostly offline is resulting in high cost of living and economic inefficiencies, worldwide. We are at the very early innings of a massive shift from offline to online, across industries.
“Our goal is to facilitate this transition with an amazing transaction experience for businesses and suppliers, making it a no-brainer for every B2B business to start selling online.”