“Can a white-label, DACH-native BNPL provider scale beyond its home market by funding receivables through securitisation rather than deposits?”
Founded 2009 in Berlin as a white-label BNPL provider focused on invoice purchase (Rechnungskauf), the dominant payment method in DACH e-commerce. Acquired by Concardis in 2017 and rolled into Nexi Group in 2021, where it operates as an independent brand focused on DACH and the Netherlands. In 2025 the company publicly pivoted toward securitisation as its primary funding structure, signaling a shift from balance-sheet growth to capital-markets-funded scaling of merchant receivables.
Ratepay uses CRIF, SCHUFA, Creditreform Boniversum, infoscore Consumer Data (Experian) and creditPass for KYC and identity verification.
Ratepay's lending and capital products are provided by Ratepay (in-house).
The Embedded Finance Index 2026 maps 2 layers in Ratepay's stack: Lending (Ratepay (in-house)); KYC (CRIF, SCHUFA, Creditreform Boniversum, infoscore Consumer Data (Experian) and 1 other).
Ratepay is founded in 2009 and headquartered in Berlin, Germany.
Get a read on where your own stack stands against Ratepay and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.