Tillit Secures Investment from Sequoia - B2B Buy Now, Pay Later

Tillit: Sequoia Capital's Potential New European Venture

Tillit, a fintech startup focused on revolutionizing B2B purchasing through a model similar to buy now, pay later, is reportedly poised to receive investment from Sequoia Capital. TechCrunch sources indicate this marks a significant step for Sequoia’s expanding European presence.

Securing Seed Funding

Multiple sources confirm that the Silicon Valley venture capital firm, having recently established a London office to bolster its European operations, is participating in a €2.5 million funding round for the Oslo, Norway-based Tillit. LocalGlobe and Visionaries Club are also contributing as seed investors. Both Sequoia and LocalGlobe have refrained from providing official commentary.

The Tillit Model: Streamlining B2B Transactions

Currently in pre-launch status, Tillit’s stated mission is “Making b2b purchases a breeze.” The company integrates invoice financing with a buy now, pay later framework.

This approach provides credit access directly during the checkout or invoice stage, offering buyers a range of payment choices, including installment plans.

Furthermore, Tillit incorporates expense management tools, designed to simplify B2B procurement processes for employees.

Benefits for Buyers and Sellers

The core concept centers on enhancing seller conversion rates by providing immediate credit options.

Simultaneously, buyers gain the flexibility to postpone or distribute payments, alongside improved oversight and transparency regarding their purchases.

Sequoia’s Expanding European Portfolio

Tillit would not be Sequoia’s initial European investment since announcing its increased commitment to the region with a dedicated team.

Recently, the firm spearheaded a $20 million investment in Xentral, a German company specializing in enterprise resource planning (ERP) software.

Xentral’s software caters to the back-office needs of online small businesses.

A Broad Investment Strategy

This investment in Xentral demonstrates Sequoia’s strategy of investing “throughout the journey,” supporting companies from the earliest stages – pre-seed and seed funding – through to initial public offerings (IPOs) and beyond.

Sequoia aims to provide comprehensive support to businesses at every phase of their development.