Two, which is helping to make B2B transactions frictionless, has secured €18m in its Series A funding round.
Shine Capital and Antler served as the lead investors to the round. Other commitments came from Sequoia Capital, Day One Ventures, Alumni Ventures, LocalGlobe, The Visionaries Club, Alliance VC and more.
Since its launch in Q2 2021, Two has grown by 243% quarterly and won 79% of competitive sales processes.
The company helps to make B2B payments as easy as a B2C deal. It claims to maximise order acceptance through multiple credit underwriters to assess the same order. Two’s own credit engine is one of the possible underwriters.
The largest transaction it has supported was a €450,000 payment that was end-to-end completed at checkout in under 45 seconds.
Shine Capita CEO and founder Mo Koyfman said, “Global business-to-business payments remain woefully analog, significantly lagging the innovation we’ve seen in consumer payments over the last decades.
“The world-class Two team is building an end-to-end global solution for B2B transactions across all sales channels. This has already led to explosive growth with businesses in the U.K. and the Nordics, and, with their recently announced banking partnerships, Two can now offer a truly global B2B solution for large multinational corporations.”
Two recently teamed up with Allianz and Santander allowing it to support large and multinational merchants across all Europe and North America.
Merchants can quickly access Two’s services by integrating an open API or choose from a selection of off-the-shelf plugins built for leading e-commerce platforms, such as Magento, Optimizely, WooCommerce, Spense, and 24Nettbutikk. It is set to launch with Shopify later this year.
With the close of the round, the FinTech company has raised a total of €28m in funding.
In other recent PayTech news, FinTech giant Stripe saw its valuation slashed again, following the close of a colossal funding round of $6.5bn.
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