Sprinque, an adaptable payments platform for domestic and international B2B transactions with offices in Berlin and Madrid, stated on Tuesday that it has extended its business into Germany and Spain.
The Dutch company has hired Mikko Riikkinen and Jaime de Wenetz as country managers. Both of them are seasoned professionals in the BNPL and FinTech sectors.
Three months before the news broke, the company had secured a €20 million loan facility from Avellinia Capital, allowing them to fund about €200 million in transactions annually.
In order to provide buyers with the finest B2B payment experience, the growth plan seeks to develop an alternative finance model that may decrease delays, boost firms’ liquidity, manage payments, and carry out international transactions.
“Sprinque’s mission is to enable merchants to use credit and payments as a strategic tool to build a thriving, cross-border business,” says Juan Espinosa, Co-Founder and CEO of Sprinque. The task at hand is really difficult. Over the last century, there hasn’t been much innovation in B2B trade, payments, or credit.
Sprinque: Versatile B2B payment platform Manoj Tutika, Mark Holleman, and Juan Espinosa launched Sprinque in February 2021.
In addition to e-commerce plugins like Magento, Prestashop, and WooCommerce, the Dutch firm provides a platform for vendors to connect their products. The services of Sprinque are also available to them for transactions that start with offline sales channels.
When a customer chooses the pay-by-invoice option, the business immediately assesses the risk of fraud and credit, with an acceptance rate of over 95%.
Once authorized, purchasers are given access to a revolving credit line that they may utilize to make several transactions. For authorized purchasers, Sprinque assumes all default and fraud risks while giving sellers the freedom to decide when they want to be paid for transactions.
Through dynamic settlements, the company’s Pay-by-Invoice system seeks to assist companies in reducing economic constraints.
The debt facility provides present and potential B2B merchants with extra liquidity when they sell using Pay-by-Invoice with net payment periods of 7, 15, 30, 45, 60, or 90 days. It also provides several Pay-in-stalments payment alternatives.
Sprinque now employs 30 people in Madrid, Berlin, and Amsterdam. The B2B commerce industry is getting increasingly digitized, according to Christoph Pfundstein, Partner at Avellinia Capital. However, it does not provide corporate customers with adaptable and simple payment methods, which limits the potential for expansion and global trade. Avellinia Capital is pleased to travel with Sprinque on their journey since they have faith in their ability to become a top B2B supplier in the payments industry.
