Our investment in Balance — First Digital Checkout Platform for B2B Businesses
Balance is the first self-serve digital checkout platform for B2B businesses
Today we are excited to announce our investment in Balance, a new company we backed in 2020 which is now officially out of stealth. We first met Bar and Yoni (ex PayPal) in 2019 through various iterations of their entrepreneurial brainstorms. Thrilled that they allowed us to partner with them so early.
Today Balance officially launched the industry’s first self-serve digital checkout platform to transform the online payments experience for B2B companies. Leveraging state-of-the-art payments and risk-assessment technology, any merchant, marketplace or SaaS company that sells goods and services online and offline can now offer their buyers a wide array of payment methods and terms, and get paid instantly — all in a single platform.
“B2B online payments, and E-commerce specifically, far outpace their counterparts in B2C. Yet, the digital experience lags behind, creating missed opportunities for growth,” said Bar Geron, CEO and co-founder, Balance. “Most online business purchases today are made via credit card, while transactions via the preferred methods for most businesses — like wires, checks, and ACH — remain offline. This is because the process is incredibly challenging, often involving offline quotes and invoices, multiple phone calls and emails, and long payment delays. Balance manages all of this complexity behind an elegant checkout experience and makes offering flexible payments methods and terms as easy as using a credit card.”
Balance announced its $5.5M seed led by Lightspeed with a great lineup of investors including: Stripe, Affirm and PayPal co-founder Max Levchin of SciFi VC, Y-Combinator and UpWest.