The startup is initially targeting merchants in the Netherlands, Spain and Germany, but is looking to expand to other countries. It also plans to use the new funding to build functionality outside the pay-by-invoice product. Dutch B2B payments platform Sprinque has raised €6 million in seed funding to expand its pay-by-invoice technology across Europe.
The round was led by Connect Ventures, with participation from Kraken Ventures, Inference Partners, and SeedX and existing investors Antler, Volta Ventures, and Force Over Mass.
Sprinque’s B2B payments platform enables merchants and marketplaces to offer pay-by-invoice with net payment terms to buyers online, without taking on additional risk or increasing operational overhead.
The technology is white labelled and can be fully embedded via APIs, Magento, Prestashop and WooCommerce plugins, or operated offline via a merchant control centre.
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Juan Espinosa, CEO, Sprinque, says: “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.”
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