Balance partners with Viola credit to strengthen sellers’ growth in e-commerce
Credit facility enables balance sheet to support digital commerce transformation
NEW YORK–(BUSINESS WIRE)–Balance, the leader in B2B payments specializing in financing and e-commerce, has announced a $350 million credit facility from Viola Credit to continue enabling B2B commerce and facilitating working capital. This announcement comes on the heels of Balance’s $56M Series B funding round to help merchants and marketplaces scale e-commerce payments with instant funding and a B2B checkout.
Sellers 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 extend Balance’s trade credit support to B2B merchants. With Viola’s support, Balance will be able to increase its funding capabilities and continue to scale its net terms product.
“Sellers can’t build trust with new buyers without payment terms, and buyers won’t move from their current supplier without getting the same terms. In other words, terms are a must for sellers to really grow in the digital space, without restricting their cash flow. Merchants need to know they have trade credit to grow with,” says Bar Geron, CEO of Balance. “That’s where we come in, facilitating payment terms in a scalable way, right from 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 – enabling us to continue our mission of fueling B2B e-commerce growth,” said Kevin Yang, head of credit at Balance.
Since launching in February 2021, Balance has supported hundreds of B2B sellers and marketplaces, growing its customer base by 10x. The company has ushered centuries-old industries online such as lumber, chemicals, steel, retail and food. With flexible terms and a consumer-like payment experience, Balance helps merchants increase cash flow, reduce operating costs and sell to more customers, all without taking any risk.
Viola Credit is a leading Global Credit Asset Manager focused on supporting the growth of the innovation economy with customized loan capital solutions for Fintech Lenders. It is part of the Viola Group, a leading technology-focused investment group with over $4.5 billion under management. Viola enables entrepreneurs to build transformational technology companies and supports their growth needs through equity and credit solutions globally.
“B2B commerce is changing digitally at an accelerated pace expected over the next few years. Balance’s technology is at the center of this digital commerce transformation, enabling sellers and buyers to transact seamlessly while enhancing customer experiences and financial access. We see incredible demand for Balance’s technology and infrastructure and are excited to partner with Balance and support the growth of their net terms product,” said Ido Vigdor, General Partner at Viola Credit.
About Balance
Founded in 2020 by PayPal alumni Bar Geron and Yoni Shuster, Balance is the premier B2B e-commerce payment company offering the first online checkout with omni-channel support built for businesses. With Balance, companies can process all payment methods, offer flexible terms and get paid immediately – all in one place. Balance has raised $87 million from a Seed and Series B equity round. Their latest funding round was led by Forerunner, a San Francisco-based venture capital firm focused on digital commerce startups.
About Viola Credit
Viola Credit is a Global Credit Asset Manager focused on supporting the growth of the innovation economy. Viola Credit offers flexible and tailored credit solutions to global technology companies with a strong focus on supporting the lending capital needs of Fintech disruptors. Viola Credit is part of the Viola Group, a leading technology-focused investment group with over $4.5 billion under management. Backed by leading global institutional investors from around the world, it provides world-class long-term returns by identifying and pursuing attractive risk-adjusted investment opportunities. Founded in 2000, Viola has supported over 200 technology companies to date.
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