Credit Key, a B2B online payments company, says it will use the funding to grow its market among small and midsized businesses.

Credit Key, a provider of an online “buy now, pay later” payment service, is planning on strong growth, driven by small and midsized businesses expanding their reach in B2B ecommerce.

It recently raised $33.85 million in venture capital to back that growth.

JohnTomich-CreditKey

John Tomich, CEO, Credit Key

“B2B ecommerce continues to expand at an incredible pace, but a great majority of merchants still lack the payment tools that their customers are asking for,” says John Tomich, co-founder and CEO of Credit Key. “As we equip more and more merchants with our point-of-sale financing option, we continue to see data that points to larger orders, fewer abandoned carts and improved customer acquisition.”

Credit Key assumes the credit risk and any loan servicing to qualified buyers, the firm says

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The Series A funding is from investment firms including Greycroft, Bonfire Ventures, and Loeb.nyc. It brings Credit Key’s total funding to date to $36.4 million, according to Crunchbase.

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