Billhop

About Billhop

Billhop AB, a Swedish fintech company established in 2012, provides a service that enables businesses and individuals to pay their bills and invoices using their credit cards, even when the end recipient does not accept card payments. The company was founded by Sebastian Somorjai, Ingemar Sjögren, and Erik Malm, who identified a gap in the market for leveraging credit card benefits for everyday invoice payments. The founders' backgrounds in finance and technology spurred the creation of a platform to bridge the divide between traditional invoicing and modern credit card infrastructure.

The service functions by having the user pay their invoice to Billhop via their credit card. Billhop then acts as an intermediary, promptly settling the original invoice with the supplier through a traditional bank transfer. This process allows businesses to utilize their existing card credit to improve cash flow and extend payment terms, effectively turning their credit card into a short-term financing tool. The primary clientele consists of small and medium-sized enterprises (SMEs) looking to manage their working capital more efficiently, as well as larger corporations seeking to optimize their payment processes. The platform serves a diverse range of industries, allowing payments for suppliers, rent, taxes, and other operational expenses.

Billhop's revenue model is transaction-based, charging the user a service fee calculated as a percentage of the invoice amount. This fee is transparently displayed to the user before they confirm the payment. For businesses, this cost can be offset by the benefits of extended payment periods and the rewards points or other perks offered by their credit card providers. The platform emphasizes security, operating as a licensed Payment Institute under the supervision of the Swedish Financial Supervisory Authority (Finansinspektionen), ensuring compliance with regulatory standards.