Norwegian B2B payment solutions provider Two announced that it has secured €18 million in a Series A funding round, bringing its total funds raised to €28 million.
The funding round was led by Shine Capital and Antler with participation from Sequoia Capital, Day One Ventures, Alumni Ventures, LocalGlobe, The Visionaries Club, Alliance VC and more.
Merchants can start selling immediately through Two’s portal through two methods. They can either integrate via a simple open API or choose from a selection of off-the-shelf plugins built for e-commerce platforms such as Magento, Optimizely, WooCommerce, Spense, and 24Nettbutikk. Two will also launch with Shopify later this year.
Two had also recently announced partnership with Allianz and Santander, enabling it to support large, multinational merchants across all of Europe and North America and offer instant net terms to its business customers through one API solution.
The company supports all small and medium sized merchants in the UK, Norway, Sweden and the Netherlands.
Andreas Mjelde, CEO and Co-founder of Two said,
“As of early 2022 the average buyer already bought more than 15 times per year. This has now grown to more than 50 purchases per year.
In fact, Two captures a 58% share of wallet of all B2B payment volume through the online channels of our 175+ active merchants, more than twice of our internal targets”.
Featured image credit: Two management team