B2B FinTech Two lands €13m to scale payments platform

July 11, 2025

Two, a leading European B2B payments platform, has secured €13m in fresh funding, with the round led by Idékapital and Shine Capital.

The raise also saw participation from new investor Investinor, alongside existing backers Antler, Sequoia Capital, Alliance Ventures, Arkwright and Local Globe.

Founded in 2021, Two provides a fully productised B2B payments infrastructure, offering instant upfront payments to sellers, flexible net terms for buyers, and AI-powered fraud prevention. Its platform includes proprietary risk engines, Frida and Delphi, and an end-to-end onboarding solution, serving over 200 merchants across the Nordics and Europe.

The new funding will support Two’s expansion into the US and Western Europe while enhancing its payment infrastructure. Within three months of its US launch, the region already accounts for over 20% of the company’s revenue.

Two has been riding a wave of momentum, with revenue and payment volume expected to increase by over 150% year-over-year in 2025. It has formed partnerships with Visa, ABN AMRO, Qliro, Avarda and Wikinggruppen.

Two CEO and co-founder Andreas Mjelde said, “We are the ‘Two’ in B2B, and we’re on a mission to make selling on net terms as easy as accepting card payments. We’ve proven that merchants want flexible payment solutions built for how businesses actually buy, not just consumer tools rebranded for B2B. We will leverage the capital injection to scale with large and global enterprise businesses, and we’re excited to add strong institutional investors with a long-term investment horizon like Investinor and Idékapital to the team.”

Idékapital managing partner Kristian Øvsthus said, “We invested in Two because of the exceptional ambition and talent of the founding team. With deep international experience and a diverse, world-class team, they are uniquely positioned to scale globally. B2B payments is a massive and still largely untapped market. Two stands out through their combination of a powerful and modular software, deep understanding of the network effects in their industry and their dedication to solving a big problem. We believe they have what it takes to build a global category leader.”