The startup offers a B2B payment platform that integrates an instant buy now pay later option at checkout, enabling merchants to provide immediate financing to customers. By assuming credit risk and managing loan servicing, the platform enhances sales and conversion rates for merchants through streamlined financing approval processes.
Funding
$154M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
RCFounders
Product
Problem
B2B buyers often face limited and outdated payment options such as in-house trade credit, credit cards, and traditional business financing, which can be slow, inflexible, and have low approval rates. This lack of accessible and flexible financing options can hinder purchasing power and limit business growth.
Solution
Credit Key provides a B2B payment platform that integrates a "buy now, pay later" solution at the point of purchase, offering flexible payment terms from Net 30 up to 12 months. The platform enables merchants to offer instant financing to their customers across all sales channels, including e-commerce, in-store, and phone/field sales. Credit Key assumes 100% of the risk and pays the merchant within 48 hours, streamlining cash flow and eliminating the need for in-house credit management. Customers benefit from instant credit decisions, lines of credit up to $50,000, and the ability to manage their orders and payment terms through Credit Key's borrower portal.
Target Audience
Credit Key targets B2B merchants across various industries, including wholesale distribution, technology & electronics, and restaurant equipment & supply, seeking to increase sales, improve customer loyalty, and streamline cash flow, as well as B2B buyers looking for flexible payment options.
Features
- Instant credit decisions for B2B buyers at the point of purchase
- Flexible payment terms ranging from Net 30 to 12 months
- Integration with e-commerce platforms, in-store POS systems, and phone/field sales channels
- Virtual card functionality for purchases with merchants not directly integrated with Credit Key
- Merchant portal for managing orders and payment preferences
- Credit Key mobile app for borrowers to manage purchases and payment terms
- Risk mitigation and collections handled entirely by Credit Key
- API access for custom integrations