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.
This service is a BNPL model with zero interest and no fees. It also offers a high credit limit for customers who are qualified.
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?”
Many BNPL players are reliant on high fees to make a living, but Anyday charges merchants a 3.95% transaction fee.
Everyday users will need to pay 25% of total purchase price at the time they complete the transaction. There will be three subsequent payments.
Jonas Overgaard is CEO of Anyday. He declined to comment about the arrangement of the remainder payments, whether they are equal or not.