Balance, a provider of B2B payments specializing in financing and ecommerce, completed a $350 million credit facility with Viola Credit to continue enabling B2B commerce and ease working capital. This announcement comes on the heels of Balance’s $56 million in Series B financing round to help merchants and marketplaces scale ecommerce payments with instant financing and a B2B checkout.
Merchants today demand and deserve more control and flexibility over their cash flow needs. Following strong inbound demand and increasing customer growth, this credit facility will be used to expand Balance’s trade credit support to B2B merchants. With Viola’s support, Balance will be able to increase its financing capabilities and continue to scale its net terms product.
“Merchants can’t facilitate trust with new buyers without payment terms and buyers won’t move from their current vendor without getting the same terms. In other words, terms are a must-have for merchants to truly grow in the digital space, without limiting their cash flow. Merchants need to know they have trade credit to grow with,” Bar Geron, CEO of Balance, said. “That’s where we come in, facilitating payment terms in a scalable way, straight from the checkout and offline — we take a true omni-channel approach.”
“This credit facility will help us provide critical working capital support to our customers and their buyers—so that we can continue our mission of bolstering B2B ecommerce growth,” Kevin Yang, head of credit at Balance, said.
“B2B commerce is shifting digitally with an accelerated pace expected over the next few years. Balance’s technology is sitting at the center of this digital trade transformation, enabling merchants and buyers to trade in a seamless manner, while improving customer experiences and financial access. We see an incredible demand for Balance’s technology and infrastructure and are thrilled to partner with Balance and support the growth of their net terms product,” Ido Vigdor, General Partner at Viola Credit, said.
