Buy Now, Pay Later Porsche? Zaver now has $30M | Tech Crunch

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We last checked in on Zaver, a Swedish B2C buy-now-pay-later (BNPL) provider in Europe, when it raised a $5 million funding round in 2021. The company has now closed a $10 million extension to its Series A funding round. , bringing its Series A total to $20 million. Total investment to date is $30 million.

In Europe, Xaver competes with powers such as Klarna, PayPal and Santander and BNP Paribas in BNPL.

However, Javer's schtick is that it can assess risk on BNPL cart sizes up to €200,000 in real time thanks to its risk assessment algorithms. Other BNPL providers don't fund more than €3,000, at least in Europe.

Founded in mid-2016 by Amir Marandi and Linus Malmen, both while students at KTH Royal Institute of Technology in Stockholm, the company has a strategic alliance with Nissan Group for direct-to-consumer sales in the Nordics and has Client relationships with Volkswagen and Porsche.

Due to this customers can also buy a car on BNPL.

Marandi, the CEO and founder, told me that the company is able to offer size-agnostic payment solutions because it spent most of its product development “on advanced risk assessment algorithms rather than linear regression models (like others).”

“While our competitors focus their efforts on marketing, our focus is on back-end engineering,” he says.

Declining acceptance rates for large transactions in the payments industry mean that a “size-agnostic payment platform” could potentially raise up to €200,000, he said.

This may be where the BNPL industry is headed.

Early innovators such as Klarna, Trustly, Tink and iZettle have capitalized on this shift to online payments, while the expansion of e-commerce infrastructure has set the stage for an increase in the average online transaction value.

The shift was first seen in 2012 when Elon Musk proposed selling Tesla online, and now many OEMs are trying to go “direct-to-consumer” using BNPL.

Investors in Series A include FROS Ventures, Hållbar AB, Hobom Brothers Equity, JOvB Investments, MAHR Projects, Skagerrak Ventures and founders, Sebastian Knutsson and Riccardo Zacconi.

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