Opyn, a specialized lending-as-a-service platform, announces the expansion in the European Union, Switzerland and the United Kingdom with its proprietary solution for B2B buy now pay later . Opyn Pay Later, Opyn’s solution launched in 2022, offers the opportunities of buy now pay later (BNPL) in an innovative and totally digital way, integrating all the financial tools necessary for B2B sales management. With the internationalization, Opyn aims to significantly expand the current volumes of about 2 billion credits managed so far by the platform in Italy alone. From flexible and modular payment deferral for any type of business to an efficient credit transfer service, Opyn Pay Later represents a response to the new needs of corporates and SMEs that are looking for a payment installment tool for themselves and their customers. After being available to Italian customers active throughout Europe, the service is now also accessible to merchants operating in the EU, UK and Switzerland, who will thus be able to easily manage collections, create customizable payment plans and reduce administrative costs and risks of default. The Italian fintech, which doubled its consolidated revenues in 2022 and in 2023 recorded a turnover in line with growth targets in Italy (around 40 million euros), confirms its solidity and considers opportunities for acquisition, both in Italy and abroad, of strategic players in the credit, point-of-sale (PoS) and payments sectors, as well as in management and control systems. The goal is to identify companies with positive EBITDA that can be seamlessly integrated with Opyn’s lending platform as a service and buy now pay later , to generate significant synergies in terms of customers and cost efficiency.
Growing market
In addition, with the foreign expansion strategy, it creates the conditions to seize the full potential of the buy now pay later in its phase of strong expansion. With a projected compound annual growth rate (CAGR) of more than 10% over the period 2023-2028 in Europe, the gross volume of BNPL goods is expected to double to $326 million in 2028 (source: Research and Markets, September 2023). Driving the growth phase will be the B2B market, which today finds in installment payment services a concrete alternative to the demand for capital, access to which is, on the contrary, increasingly expensive (source: Research and Markets, September 2023). “Internationalization has always been part of our strategic plan. We are among the very few fintechs made in Italy to follow the B2B sector and the good results achieved with Opyn Pay Later in Italy push us to enter the foreign market right now, thanks to consolidated financial and technological skills – comments Antonio Lafiosca, co-founder and chief operating officer of Opyn -. We are sure that the European, English and Swiss markets will appreciate our solutions, also in consideration of a strong cultural predisposition to innovation and an efficiency and speed of service made possible by our totally Italian IT team. But we do not intend to stop there: to consolidate this organic growth, we are also focusing on M&A transactions to acquire new companies that we believe can help us establish ourselves more and more as a leader in lending-as-a-service both in Italy and abroad. It’s an important step for us and we’re looking forward to it.”
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