Dutch B2B payments platform Sprinque has secured €6 million in seed funding to broaden its pay-by-invoice technology throughout Europe.
The funding round was led by Connect Ventures, with contributions from Kraken Ventures, Inference Partners, SeedX, and existing investors Antler, Volta Ventures, and Force Over Mass.
Sprinque’s platform empowers merchants and marketplaces to provide pay-by-invoice options with net payment terms to online buyers, without incurring additional risk or increasing operational overhead. The technology is white-labeled and can be seamlessly integrated using APIs, as well as plugins for Magento, Prestashop, and WooCommerce, or operated offline through a merchant control center.
Initially focusing on merchants in the Netherlands, Spain, and Germany, Sprinque also aims to expand into other countries. The company plans to utilize the new funding to enhance functionalities beyond its pay-by-invoice offerings.
Juan Espinosa, CEO of Sprinque, stated: “We’ve identified this challenge across every B2B industry. Buyers are unlikely to convert and remain loyal if they are not given the option to pay by invoice. However, the existing offline and manual processes that many B2B merchants depend on are insufficient to manage risk and cater to numerous online buyers across various markets.
“Sprinque has been designed to enable merchants and marketplaces to offer pay-by-invoice solutions with payment terms in the most seamless manner possible for the most ambitious merchants.”