Today, we are delighted to announce our first investment in Denmark: the Aarhus-based fintech Viabill. Created by Jan Lytje-Hansen, Viabill provides an alternative payment method that increases e-merchants’ average basket and conversion rates. This also marks our first collaboration with German fund E.Ventures (Groupon, Farfetch, Sonos, Bird, Made, and many more) with whom we’re co-investing in this €9m Series A
Viabill enables merchants to offer their customers a ‘try-before-you-buy’ (aka buy-now-pay-later) solution seamlessly embedded in their checkout process. By choosing Viabill, customers can order a product, receive it at home and try it before choosing whether or not to keep it. If they decide to keep it, Viabill enables customers to pay up in one go within 30 days after the purchase or to pay in monthly instalments shaped as a Spotify or Netflix subscription fee. In sum, Viabill is an avant-garde payment method offering full flexibility and transparency to e-shoppers.
It is a win-win payment method for all: customers are satisfied (8.4/10 rating on Trustpilot!) because they get the product they want on flexible and transparent payment terms; e-merchants are happy because they get higher conversion rates and increased basket sizes. The solution already convinced 4k merchants and 100k+ Danish consumers.
The team is now gearing up for global expansion, which started with Norway in 2018 and the US last month. By relying on their partnership with leading e-commerce solutions like Magento, Shopify or Prestashop, Viabill can distribute its solution to e-merchants of any size.
At BlackFin Tech, we are proud to be part of this exciting new chapter for Viabill, and we are looking forward to supporting Jan & the team in taking the company to the next level!