Norwegian B2B paytech Two nabs €18m Series A funding
Two, a Norway-based B2B payment solution provider, has secured €18 million in a series A funding round led by Shine Capital and Antler.
The round also saw participation from Sequoia Capital, Day One Ventures, Alumni Ventures, LocalGlobe, The Visionaries Club, Alliance VC, and others. The Series A funding brings the total capital raised by the firm to €28 million.
Among its solutions, Two offers instant checkout with buy now, pay later (BNPL) options with payment terms ranging from 14 days to 12 months.
Using its own technology and third-party data sources, Two claims it can underwrite transactions “in under a second” with average approval rates of more than 90%.
By paying sellers upfront and taking care of receivables and collection processes, Two says it helps companies increase conversions and offload credit and fraud risk.
Since its launch in Q2 2021, Two claims to have grown 243% quarterly. CEO and co-founder Andreas Mjelde says the firm has a 58% share of all the B2B payment volumes through the online channels of their 175 active merchants, “more than twice our internal targets”.