Consumers have long felt that traditional financing options don’t serve them well. This has led to the rise of alternative financing options with buy now, pay later (BNPL) emerging as the most popular.
BNPL has surged in popularity in the retail and consumer goods market and is slowly making inroads in the business credit space as well. However, not all BNPL solutions are equal and in3, a Dutch fintech company based in Eindhoven, wants to make a difference with its socially responsible solution.
From afterpay to BNPL solution
in3 was co-founded by Patrick van de Graaf and Jeroen Janssen en Jos Verkleij in 2016 with the key tenet of social responsibility in place. It initially offered only an afterpay solution but felt there was a need for instalment payments covering higher amounts.
With customers asking questions around the maximum order amount of the afterpay solution, in3 felt a real need to change its business without taking more risk or putting end consumers in difficulty of over credit. Hans Langenhuizen, CEO of in3, says they began offering an instalment payment solution for higher amounts.