Germany-based end-to-end payments solution getpaid has raised USD 6 million in a seed funding round led by Nordic early-stage VC Inventure.
It's worth noting that existing investor Picus Capital also increased its investment in the company, while several prominent European angel investors joined the funding round.
According to the company press release, B2B Software as a Service (SaaS) platforms and marketplaces are experiencing rapid growth, occupying a significant portion of the B2B payments market. Despite this, the B2B payments sector remains predominantly offline, representing a size five times larger than B2C payments. However, while B2C ecommerce companies have fewer issues integrating fintech solutions for payment processing, B2B platforms and marketplaces face challenges in managing the complexity of multiparty transactions involving buyers, sellers, and platforms.
Getpaid aims to address this complexity by handling payment splits, fees, and commissions for transactions that involve multiple parties and geographical locations. The platform also facilitates flexible payout timing through integrated payment and finance operations. This simplifies payment operations for platforms, allowing them to scale their revenue and merchant base while introducing new service lines without the need for significant team expansion.
Representatives from getpaid emphasised their commitment to providing customisable payment solutions tailored to the specific needs of SaaS-enabled B2B marketplaces. They also highlighted the importance of platform-tailored payment capabilities, innovative use of aggregated data, and artificial intelligence to streamline payment operations without increasing the workforce.
Investors from Picus and Inventure expressed optimism about the potential for verticalised payment solutions in rapidly growing verticals such as marketplaces and B2B SaaS. They believe that these solutions can simplify multi-party payments, address regulatory requirements, and empower platform providers to focus on their core activities.
Getpaid was founded in 2022, and its mission is to become the world’s most platform-centric solution, where platforms can monetise payments and easily enable merchants to grow their businesses. According to getpaid, the company has onboarded multiple live customers and secured contracts representing more than EUR 600 million of Gross Merchandise Volume (GMV) across various B2B marketplaces and platforms.
The Pan-European software and payment company is exclusively focused on B2B platforms and marketplaces, and it has offices in Germany and Spain. Their product aims to enhance the value derived from payments across revenue potential, data insights, customer experience, and payment operations.
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