Interview With Cihan Duezguen, Co-Founder and CEO GreenBanana Group

In this edition of Founder Spotlight interview, we introduce Cihan Duezguen, Co-Founder and CEO of Green Banana Group. In this interview, Cihan shares his vision behind building bnplx.io, a platform designed to simplify Buy Now, Pay Later (BNPL) for retailers and providers. With several years in payments (Giropay, Worldpay, FIS) and retail, Cihan saw clear gaps in how BNPL solutions were offered and aimed to create a flexible, scalable network to improve approval rates and reduce complexities for merchants and payment service providers. As of 2025, the global BNPL market continues to experience strong growth, driven by rising consumer demand for flexible payment options. While exact market size figures vary across reports, estimates generally project the BNPL market to exceed $250 billion in global transaction volume by 2026, with annual growth rates often above 20-25%.

Green Banana, based in Frankfurt, has raised €2 million in pre-seed funding and connects merchants and payment service providers with BNPL providers through a single API across more than 25 countries. The platform supports businesses of all sizes and integrates with popular e-commerce systems, delivering a smoother checkout experience while enabling providers to scale faster.

Focused on building long-term partnerships and adapting to market needs, Cihan emphasizes a balanced approach to innovation and compliance. This interview offers valuable insights into his leadership, the challenges of BNPL orchestration, and Green Banana’s role in shaping the future of retail payments.

What inspired you to launch GreenBanana Group and focus on the Buy Now, Pay Later (BNPL) sector?

I have worked in retail for a long time and have been in the payments space for over six years. And in particular, since I have gained more insight into the dynamics, shortcomings, and changes in this space, I have frequently asked myself whether the offerings are fit for purpose. And here I have encountered the deficiencies and inefficiencies of the Buy Now Pay Later payment method, which I frequently encounter with retailers and payment service providers. I have asked myself why this is the case. And together with my founding partners  — formerly with Giropay, Klarna, and Paysafe Group — we started to discuss this question from all angles. 

While regulators or consumer protection representatives frequently challenge BNPL, it not only remains but is a growing payment method for many retailers. I serve not only the merchants’ desire for more conversion but also the need for payment flexibility on the consumer side. It therefore has huge potential for innovation driven by new technology, AI, and scalability. This all led to the idea of founding Green Banana.

GreenBanana Group positions itself as a strategic partner for connected commerce. What’s your long-term vision for the BNPL ecosystem?

Connected commerce is being driven by new tech stacks. It is clear that we are experiencing a major shift in the behaviours of consumers and retailers, and in the way they interact with each other. As I said before, these changes will involve technology, data, and AI. We are in the middle of these changes, with a new approach to how BNPL is thought of and used. Our platform connects invisible and seamless BNPL service providers to traditional retailers, payment service providers, and new business models. We are closely observing the rapid evolution of stablecoins, which marks a pivotal shift in the trajectory of decentralized finance.

Can you share a tough decision you made as CEO that influenced Green Banana’s direction?

As a team, we have tough conversations. We discuss questions around prisonisation and the allocation of resources. As a startup, we continually challenge ourselves to find the best way forward. People often ask us why we stay focused on BNPL orchestration. Chasing adjacent opportunities is tempting, but it is not the most effective use of our time and energy. We stay focused. Our guiding principle is clear: build the most effective BNPL network in the payment world.

How do you integrate customer feedback and market needs into your product roadmap?

Before we launched the orchestration platform, I manually validated our business model —using calls, meetings, and connections within my network. I matched a merchant with a BNPL provider and generated our first revenue. It was clear from our hands-on experience that we needed to build a scalable platform to match, connect, and convert. Our DNA is merchant-centric, but we also have a deep understanding of BNPL providers. Feedback is essential to us and is embedded in every step of product development.

With bnplx.io connecting retailers and BNPL providers in over 25 countries, what’s been key to building trust across such diverse markets?

We are positioning our platform and API as a neutral BNPL aggregator. Our merchants can use different provider solutions side by side, modular, and agnostic. This flexibility fosters coexistence rather than competition — and ultimately builds trust. Our business model thrives on long-term partnerships, which align perfectly with our strategic vision.

How does bnplx.io support both small businesses and large enterprises? What’s the benefit for BNPL providers joining your network?

Merchants of all sizes gain flexibility by working with us. SMEs can scale into new markets quickly — or optimize existing ones by selecting providers based on performance or preference. Large enterprises benefit from our international reach, plug-ins for common shop systems, SDKs, and API-first architecture. For BNPL providers, we open the door to new merchants via our tailored Sales-as-a-Service model. PSPs, on the other hand, benefit from seamless access to multiple BNPL providers through our Infrastructure-as-a-Service offering. We want to solve challenges for all those target customers and partners.

How do you use your platform to influence industry conversations and promote responsible BNPL adoption?

All founding team members have an extensive network within the wider payments, banking, and retail ecosystem. Green Banana, as an invisible BNPL payment orchestrator, stands for innovation and a new, seamless way of delivering  Buy Now, Pay Later services from third-party providers. The topic of BNPL can be discussed from various perspectives, including growth opportunity, consumer risk, regulatory clarity, product evolution, and market potential. To boost adoption, address all aspects of the issue. We also aim to be a value-adding influencer in this field.

You recently raised €2 million in pre-seed funding. How will this investment accelerate your growth?

Our orchestration platform is our core asset. The funding enables us to build a state-of-the-art platform from a tech perspective. In addition, we are using the funds to build connections into the payment and retail ecosystem from a partnering, commercial, and go-to-market perspective. Reflecting on the past 12 months, I am confident that our new offering has generated significant interest from both the payment industry and retailers. And even many investors have knocked at our door.

With increased regulatory scrutiny on BNPL, how do you balance compliance with rapid innovation?

The new CCD2 directive is an important step toward consumer protection — and we fully welcome it. It provides much-needed structure and security. Compliance and risk management remain the responsibility of individual BNPL providers, who must implement CCD2 in accordance with their respective rules and regulations. As a dedicated orchestrator, we remain typically outside the regulatory scope, but we support merchants in evaluating providers from a compliance perspective.

What leadership qualities do you believe are essential for fintech founders and executives to drive sustainable growth?

As a founder: build the best founding team — everything starts with trust and mutual support.

As an executive: lead with integrity, drive change, and win as one team.

For both: execution, execution, execution!