European B2B payments platform Sprinque has raised a €6 million seed funding round 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.
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. Sprinque is a white-labelled solution that can be fully embedded via their APIs, their Magento, Prestashop, and WooCommerce plugins, or operated offline via their Merchant Control Center.
“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,” said Juan Espinosa, Co-Founder, and CEO.
“Sprinque’s founding team has a deep understanding of B2B commerce and how to help their customers improve conversion, retention, and cash flow. They recognise that a B2C-style BNPL payment method does not translate into a B2B context, so instead they are building a differentiated product designed specifically for the breadth and complexity of B2B commerce,” stated Rory Stirling, General Partner at Connect Ventures.
Sprinque’s buyer coverage includes the majority of Europe to enable frictionless cross-border eCommerce. It is initially targeting merchants in the Netherlands, Spain, and Germany, but is looking to expand to other countries quickly.
The latest 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.
Thibault D’hondt, Principal, Force Over Mass said, “In our quest to find the next big winner in B2B payments, Sprinque’s management continued to impress us with their complementarity skills and executional strength. We could not be more excited to double down on our investment and help the company unlock this multi-trillion opportunity.”