When it secured an investment of $5 million round in 2021, Zaver, a Swedish B2C buy-now-pay-later (BNPL) supplier in Europe, was the last company we looked in on. With the closing of a $10 million Series A investment round, the company’s total Series A capital has grown to $20 million. The total amount that has been invested thus far is $30 million.
In Europe, incumbents like Santander and BNP Paribas, as well as Klarna and PayPal, are competitors of Zaver in the BNPL market.
But Zaver’s marketing gimmick is that it says its risk assessment algorithms can evaluate the risk on BNPL cart sizes up to €200,000 in real-time. Other BNPL providers, at least in Europe, hardly ever fund more than €3,000.
The firm was founded in mid-2016 by Amir Marandi and Linus Malmén, who were both students at the KTH Royal Institute of Technology in Stockholm. It has client partnerships with Volkswagen and Porsche and a strategic agreement with the Nissan Group for direct-to-consumer sales in the Nordic region.
“From track to street, every journey with Porsche is a celebration of performance.”
Customers are able to acquire cars on BNPL thanks to this.
The company’s founder and CEO, Marandi, told me that the reason it can provide size-indifferent payment solutions is because the majority of its product development efforts have been directed “not toward linear regression models (like the others) but toward advanced risk assessment algorithms.”
“While our competitors have concentrated their efforts on marketing, our focus has been resolutely on the back-end engineering side of things,” he added.
He believes that diminishing acceptance rates for larger transactions in the payment sector provide an opportunity for a “size-agnostic payment platform” worth up to €200,000.
This might be where the BNPL industry is headed.
Early pioneers like Klarna, Trustly, Tink, and iZettle benefited from the transition to online payments, but the growth of e-commerce infrastructure has paved the way for an increase in the average online transaction value.
This trend began in 2012 when Elon Musk advocated selling a Tesla online, and many OEMs are now aiming to go “direct-to-consumer” through BNPL.
Series A investors include FROS Ventures, Hållbar AB, Hobohm Brothers Equity, JOvB Investments, MAHR Projects, Skagerak Ventures, and King.com founders Sebastian Knutsson and Riccardo Zacconi.
KNOW MORE ABOUT IT
The introduction highlights the anticipation surrounding Zaver’s ability to fulfill a dream of owning a Porsche, made possible by a significant financial breakthrough of $30 million. This introduction sets the stage for a narrative of perseverance and determination, suggesting that after facing obstacles, Zaver is now on the brink of realizing a long-held aspiration. It creates a sense of intrigue and curiosity about Zaver’s journey and the circumstances leading up to this pivotal moment. Ultimately, it sets the tone for a story of triumph over challenges and the fulfillment of a cherished goal.
