Sprinque, an Amsterdam, Netherlands-based provider of a B2B payments platform, raised €6M in Seed funding.
The round was led by Connect Ventures, with participation from Kraken Ventures, Inference Partners, SeedX, Antler, Volta Ventures, and Force Over Mass.
The company intends to use the funds to expand Pay by Invoice Solution across Europe.
Led by Manoj Tutika (CTO), Mark Holleman (CPO), and Juan Espinosa (CEO), Sprinque provides a B2B payments platform that enables merchants and marketplaces to offer Pay by Invoice with net payment terms to buyers online, without taking on additional risk or increasing operational overhead. On the buyer-end, Sprinque performs a real time fraud and credit risk assessment (with a +95% approval rate) when buyers create an account with the merchant, or when they select “Pay by Invoice” at checkout. When approved, Sprinque issues a revolving credit line that buyers can use for multiple purchases. Sprinque then pays the merchant when the final invoice is issued, taking away the risk of default.
The white labeled solution can be fully embedded via their APIs, their Magento, Prestashop and WooCommerce plugins, or operated offline via their Merchant Control Center.