Offering an alternative to the Buy Now Pay Later (BNPL) status-quo, Anyday has raised €4 million in a seed funding round provided by Helsinki’s Inventure.
The service offers a BNPL model that has zero interest, no fees, and provides a high credit line for qualified customers.
Having built a successful track record with web stores, the funding is aimed to be used to further roll out Anyday’s offer to the Scandinavian market and implement the service at in-store locations.
Taking a look at the exorbitant fees imposed by most BNPL operators, Anyday founder, and CEO Jonas Overgaard asked a simple question, “why?”
While many BNPL players have based their entire business model on imposing high fees, Anyday offers none of which and turns a profit by charging merchants a 3,95% transaction fee.
Anyday users must front 25% of the purchase price at the time of the transaction, with three successive payments to be made.
Anyday CEO Jonas Overgaard declined to comment on how the remaining payments are structured, equal amounts or otherwise.
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