Resolve to launch payments platform
Resolve has announced that it has formally spun out of Affirm to launch an automated payments platform offering extended net terms. The company says that early customers using its payment automation technology have realised increases in B2B sales, growth in order size, and faster sales cycles.
Resolve is an automated platform for net 30, 60 and 90-day payment terms. Buyers complete an application customised for their business type and size. Resolve then analyses applications in combination with non-traditional commercial underwriting data such as purchase history to approve extended payment windows.
Resolve assumes all repayment risk, enabling companies to offer risk-free extended payment terms without ever having to manage customer billing or collections. Buyers pay 0% interest if accounts are repaid within the agreed-upon terms. Suppliers receive full payment, minus fees, as soon as an order is placed.
Resolve was developed by entrepreneurs Chris Tsai and Brian Nguyen. After selling their prior e-commerce and payments company to Indiegogo, they collaborated closely with Levchin’s Affirm and HVF teams to build an automated financing solution for B2B e-commerce, which has now spun-out to become Resolve.