Sprinque, an Amsterdam, Netherlands-based B2B payments platform that enables B2B marketplaces and merchants to offer Pay by Invoice with net payment terms to buyers online, raised €6 million in seed funding.
The round was led by Connect Ventures, with participation from Kraken Ventures, Inference Partners, and SeedX. Existing investors Antler, Volta Ventures, and Force Over Mass also contributed to the round.
This investment will be used to expand deeper into European markets and build functionality outside the Pay by Invoice product, as well as develop risk-sharing solutions and manage all payment flows for B2B merchants and marketplaces.
Sprinque is a white-labeled solution that can be fully embedded via their APIs, Magento, Prestashop, and WooCommerce plugins, or operated offline via their Merchant Control Center.
“We’ve identified this problem across every B2B industry. Buyers won’t convert and be retained if the ability to Pay by Invoice is not given to them, but the existing offline and manual processes B2B merchants rely on are not adequate to manage risk and serve hundreds of online buyers across multiple geographies. Sprinque has been built to enable merchants and marketplaces to offer Pay by Invoice with payment terms in the most seamless way possible for the most ambitious merchants.” - Juan Espinosa, Co-Founder, and CEO.
Sprinque presents a simpler and more efficient solution that helps B2B merchants improve both conversion and retention. The Sprinque platform mitigates risk by taking on all defaults and fraud risks and automating the end-to-end process of offering Pay by Invoice with net payment terms at scale.
Company: Sprinque B.V.
Raised: €6.0M
Round: Seed Round
Funding Month: January 2023
Lead Investors: Connect Ventures
Additional Investors: Kraken Ventures, Inference Partners, SeedX, Antler, Volta Ventures, and Force Over Mass
Company Website: https://www.sprinque.com/
Software Category: B2B checkout platform
About the Company: Founded in 2021 by Juan Espinosa, Manoj Tutika, and Mark Holleman, Sprinque is a B2B checkout platform for merchants & marketplaces that makes it possible for sellers to “Sell & Forget” while business buyers decide how and when they would like to pay for a purchase. Sprinque built a digital checkout infrastructure to make business transactions as frictionless as ordering something from a consumer webshop. Their SaaS solution only needs one single integration and offers a multitude of business-specific options. It also provides access to multiple payment methods, including Pay by Bank, allowing buyers to settle invoices using their online bank account or mobile bank app. The company’s mission is to help businesses grow safely in a digital world.
Source: https://www.sprinque.com/post/sprinque-announces-6-million-seed-funding-round-to-expand-pay-by-invoice-solution-across-europe