The Dutch FinTech is opening new offices in Berlin and Madrid and appoints Mikko Riikkinen and Jaime de Wenetz as Country Managers, both veterans of the FinTech and BNPL industry. This strategic move comes after a successful start to 2023, where Sprinque secured its €6 million seed funding and a €20 million credit facility from Avellinia Capital. The latter will enable Sprinque to finance transactions worth around €200 million per year.

International transactions without different suppliers

The B2B payment platform, founded in Amsterdam in 2021, is expanding to Germany and Spain with the goal of conquering the European market and solidifying an alternative financing model, capable of mitigating delays, expanding the liquidity capacity of companies, managing payments and carrying out international transactions while providing buyers the best in class B2B payments experience. Its mission, says Juan Espinosa, Co-founder and CEO of Sprinque, is “to enable merchants to use credit and payments as a strategic tool to build a thriving, cross-border business. The challenge ahead is enormous. B2B commerce, payments and credit have seen very little innovation over the last century.”

Christoph Pfundstein, Partner at Avellinia Capital comments: “The B2B commerce sector is becoming more digitized. Yet, it lacks to offer business clients flexible and convenient payment options, which dampens the possibility of international transactions and growth. Avellinia Capital believes that Sprinque will become a leading B2B provider in the payment sector and is proud to accompany them on their journey.”

Sprinque enables sellers the ability to embed their solutions via APIs, ecommerce plugins (Magento, Prestashop, and WooCommerce, for example), and to utilize their services for transactions that originate via offline sales channels. When a buyer selects the pay-by-invoice option, Sprinque performs an instant fraud and credit risk assessment

(with a +95% approval rate). Once approved, a revolving credit line is issued, one that buyers can use for multiple purchases. Sprinque owns all default and fraud risk for approved buyers, and offers the sellers the ability to decide when they get their funds for the transactions. B2B sellers can leverage this service across the whole of Europe and grow internationally. Sprinque is initially targeting merchants in the Netherlands, Spain, and Germany, but is looking to expand to other countries quickly.