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For SMEs, an Indonesian B2B invoicing firm has launched the BNPL feature

Indonesia-based Paper.id, a B2B invoicing company, has created a purchase now, pay later (BNPL) service to aid small businesses in recovering from the Covid-19 pandemic’s consequences.

Small and medium-sized organisations (SMEs) can use the Get Paid Faster option to opt into the BNPL payment method if they need a term extension for their purchases. Rather than paying their suppliers right away, SMEs can set up a payment plan that extends their payments by 30 days.

“According to our internal data, most SME B2B buyers can only pay their suppliers in cash or via bank transfer. With a BNPL and digital payment methods, including credit card, we give the buyer more options, regardless of whether the supplier offers payment terms or not,” said Yosia Sugialam, CTO and co-founder of Paper.id.

In order to extend its funding capabilities, the firm claimed it just took in strategic investor Buana Sejahtera Group, which has companies in the banking, logistics, and hotel industries.

Paper.id received an unknown amount of investment in a series A round from Golden Gate Ventures, a Singapore-based venture capital firm, and Modalku, an Indonesia-based peer-to-peer lending platform.

Paper.id has set up a good remark among the invoicing companies. It will climb the ladder fast and will be among the fastest growing companies in Indonesia. My best wishes to the team of Paper.id.

Shishir Gupta, Founder and CEO, StartupLanes

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