Norwegian business-to-business payments firm Two has raised €18 million in a Series A fundng round led by Shine Capital and Antler.
Sequoia Capital, Day One Ventures, Alumni Ventures, LocalGlobe, The Visionaries Club and Alliance VC joined the round, which brings Two's total funding to €28 million.
Despite representing $120 trillion in annual payment volume, Two claims that B2B commerce has lagged behind the consumer space in the last two decades. Purchasing as a business is still a manual, time-consuming and inefficient experience that can see firms wait weeks for invoices to be paid.
Two says its technology makes it as easy to accept business orders on net terms as it is to accept card payments from consumers.
By taking care of credit and fraud underwriting, paying sellers upfront, and overseeing the receivables and collection processes, Two allows sellers to focus on delivering exceptional products.
Martell Hardenberg, global investment partner, Antler, says: "Two’s rapid growth is a testament to the large pain points they are solving, by allowing merchants to offer their clients seamless payment and access to credit, while boosting online sales and customer loyalty for their merchants."
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