Anyday, the Danish financial software developer, has raised 4 million euros ($4.4 million) as part of the seed round for a buy now, pay later (BNPL) venture, according to a report from ArcticStartup on Thursday, March 31.
The company adopted a new type of payment system, changing the split payment structure, leaving stores to bear the burden of their potential customers.
Anyday offers interest-free financing to customers, charging a modest fee to online stores on the platform.
The report notes that online stores are benefiting, with the system attracting more customers to stores.
The funding will allow the company to expand its services throughout the Nordic region and add more payment options for in-store businesses.
Anyday initially pitched its concept in 2021. Inventure was the lead investor for the current round, according to the release.
The report notes that the Anyday payment solution is available for Danish online shops and, as part of the growth plan, will be introduced for payments in in-store businesses, both as a virtual credit card and as a virtual credit card. app with payment technology.
PYMNTS wrote that the BNPL, as it gains popularity, will begin to see more activity from regulators.
See also: As regulators probe BNPL practices, data privacy and localization rules come into play
Regulators have had an interest in ensuring that consumers do not accumulate more debt that they will have difficulty repaying. This means they are likely to focus on issues of trust and transparency.
In the United States, California leads the way in regulating BNPL companies. Other states could follow, analysts say.
Businesses will also need to pay attention to data privacy regulations, with the European Union’s General Data Protection Regulation setting a framework for the use of data.
The United States does not have a single privacy law, and privacy rights have been granted on a sector-by-sector basis.