Aria has announced a €15m funding round to expand their deferred payment infrastructure across the platform economy and B2B marketplaces. B2B payments represent $120trn in volume annually around the world but only 7% of this is conducted digitally. With this new funding, Aria looks to bring a digital payment experience to all businesses.
The funding round was led by 13books Capital with participation from Adevinta Ventures, Ankaa Ventures, Otium Capital and angel investors including Laurent Ritter, Mark Ransford and Guillaume Princen.
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Aria enables any merchant, B2B marketplace or vertical SaaS company that sells goods and services online and offline to offer their sellers a wide array of payment methods and terms, and get paid instantly. This is all in a single platform. Aria can connect with B2B marketplaces, transactional SaaS platforms and ERP systems to distribute early payment of supplier invoices and offers deferred payment options for end-clients via their API.
Aria looks to make the B2B checkout experience more like B2C
Aria will offer businesses a checkout experience akin to B2C users and underlying this the embedded payment infrastructure will cover funding, KYC/KYB, debtor risk analysis, anti-fraud analysis, credit insurance and debt recovery.
Clément Carrier, CEO and co-founder of Aria, commented: “We have solved a big problem for freelancers and the platform economy but we have seen, first-hand, that businesses face a big bottleneck when it comes to payments. Most online business purchases today are completed by credit cards, while transactions via preferred methods for most businesses, like wires, checks, and online banking, remain offline and have to be conducted elsewhere. This is because the process is incredibly challenging, often involving offline quotes and invoices, multiple phone calls and emails, and long payment delays.
“Aria manages all of this complexity behind a slick checkout experience and makes offering flexible payment methods and terms as easy as using a credit card. The truth is that innovation in B2B commerce payments has lagged far behind the B2C space. We want to modernise wide-ranging aspects of how B2B commerce is conducted in the digital age.”
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