Sprinque raised the seed funding to expand deeper into European markets & build product functionality.
Founded in 2021 by Juan Espinosa, Manoj Tutika, and Mark Holleman, the startup offers a B2B payments platform that enables B2B marketplaces and merchants to offer Pay by Invoice with net payment terms to buyers online. It is a white-labeled product that can be used offline through their Merchant Control Center or completely embedded using their APIs, Magento, Prestashop, and WooCommerce plugins.
The platform offers B2B merchants an easier and more effective way to increase conversion and retention. By taking on all default and fraud risks and automating the entire end-to-end process of providing Pay by Invoice with net payment terms at scale, the Sprinque platform reduces risk.
“We’ve identified this problem across every B2B industry. Buyers won’t convert and be retained if the ability to Pay by Invoice is not given to them, but the existing offline and manual processes B2B merchants rely on are not adequate to manage risk and serve hundreds of online buyers across multiple geographies. Sprinque has been built to enable merchants and marketplaces to offer Pay by Invoice with payment terms in the most seamless way possible for the most ambitious merchants.”
– Juan Espinosa, Co-Founder, and CEO.
The seed fund round was led by Connect Ventures, with participation from Kraken Ventures, Inference Partners, and SeedX. Existing investors Antler, Volta Ventures, and Force Over Mass also contributed to the round of funding.
Congratulation to team Sprinque from team SpotSaaS.
