Payments Platform Sprinque Raises €6 Million

The Dutch B2B payment platform Sprinque has attracted initial financing in the amount of 6 million euros.

Payments

Springuel raised $6 million in seed funding to expand its pay-by-invoice technology. Source: Pixabay.com

The funds were raised in order to spread the technology of bill payment in Europe. The completed round of fundraising was led by Connect Ventures. Kraken Ventures, Inference Partners, and SeedX took part. Former investors Antler, Volta Ventures, and Force Over Mass have also allocated funds.

The Sprinque platform for B2B payments provides sellers and trading platforms with the opportunity to offer buyers a net payment on the invoice. This form of interaction minimizes risks. Also, this payment method does not provide for an increase in operating expenses.

The technology has a white marking. This technological solution can be fully integrated through the API, Magento, Prestashop, and WooCommerce plugins. The developers also provided the possibility of working offline through the seller management center.

Initially, this payment platform was intended for sellers in Spain, Germany, and the Netherlands. Now the startup intends to expand the geography of its activities. The company does not report on the markets in which countries it plans to appear.

The startup also intends to use the raised funds in order to create functionality beyond the product with payment on the bill.

Juan Espinosa, CEO of Sprinque, said that buyers will not constantly interact with those platforms that do not provide the ability to pay by invoice. He also noted that the existing offline and manual processes in the field of B2B are not sufficient for full risk management and are unsuitable for servicing hundreds of buyers in different regions online.

Juan Espinosa pointed out that Sprinque was created in order for individual sellers and large trading platforms to be able to provide customers with the most convenient ways to pay for goods.

As we have reported earlier, B2B Payments to Surpass 111 Trillion in Five Years.