in3

Based in the Netherlands, in3 offers a B2C BNPL product for online and in-store purchases, allowing consumers to spread payments over three interest-free installments across 60 days. in3 generates revenue through commission-based fees charged from retailers. in3 claims it differentiates its offering by signing up with payment service providers (PSPs), who then encourage adoption of in3’s services amongst their retailer customer base, as opposed to approaching retailers individually.

Key customers and partnerships

As of March 2022, the company caters to more than 1,500 retailers, including Kwik Fit, La Souris, and Dekbed-Discounter. In May 2022, in3 reported more than 300% YoY revenue growth since 2018. in3’s latest PSP partnership with Worldline was signed in March 2022 and could be key in sustaining its growth, reporting 11x as many retailers as any of its existing PSP partners. It also announced a nationwide partnership with payment services provider Mollie in May 2022. Mollie supports over 130,000 online merchants and is considered to account for a large share of online payment traffic in the Netherlands.

Funding and financials

in3 raised EUR 81 million (approx. USD 85 million) in a Series B funding round from Waterfall Asset Management, Finch Capital, and UK-based venture capitalist Force Over Mass in May 2022 . The round was a mix of debt and equity and follows in3’s Series A round worth USD 11.1 million in March 2022 . The fresh funds were earmarked for further expansion in the Netherlands and entering the German market.