Total amount raised
€27.8 Millions
Latest funding date
06/01/2023
Location
Sprinque has successfully raised funding through multiple rounds, with notable investors including Avellinia Capital and Antler. The company offers a B2B checkout platform that enables merchants and marketplaces to provide flexible payment options to their buyers.
Keep reading to explore the intricacies of Sprinque's fundraising journey and the investors backing this innovative platform.
What Is Sprinque?
Sprinque, founded in 2021, is a B2B payments platform based in Amsterdam, The Netherlands. The company was established by Juan Espinosa, Manoj Tutika, and Mark Holleman.
Operating within the B2B, e-commerce, marketplace, and payments industries, Sprinque offers a checkout platform that enables merchants and marketplaces to provide flexible payment options to their buyers. The company employs between 11 and 50 people.
How Much Funding Has Sprinque Raised?
- Pre-Seed Round
- Amount Raised: €100K
- Date: January 2021
- Lead Investors: Antler
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop the initial version of the B2B payments platform.
- Seed Round
- Amount Raised: €1.7M
- Date: September 2021
- Lead Investors: Force Over Mass Capital, Volta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Seed Round
- Amount Raised: €6M
- Date: January 2023
- Lead Investors: Connect Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Sprinque’s Pay-by-Invoice offering in Europe, focusing on Dutch, Spanish, and German retailers.
- Debt Financing
- Amount Raised: €20M
- Date: June 2023
- Lead Investors: Avellinia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support European B2B ecommerce merchants, particularly those selling on a Pay-by-Invoice basis, and to finance around €200 million in transactions per year.
Total Amount Raised: $30.3M
Current Valuation: Not publicly disclosed
Key Investors
- Avellinia Capital
- Details: Avellinia Capital is a private credit investment manager dedicated to supplying financing solutions to specialty lenders and finance originators. They provided a €20 million debt facility to Sprinque to support European B2B ecommerce merchants.
- Investment Focus Areas: Financing solutions for specialty lenders, finance originators, online point-of-sale working capital solutions.
- Notable Investments: Not publicly disclosed.
- Connect Ventures
- Details: Connect Ventures is a venture capital firm that invests in early-stage technology companies. They led a €6 million seed round for Sprinque in January 2023.
- Investment Focus Areas: Technology, early-stage startups, innovative solutions.
- Notable Investments: Citymapper, Typeform, Curve.
- Force Over Mass Capital
- Details: Force Over Mass Capital is a venture capital firm that focuses on early-stage technology investments. They were a lead investor in Sprinque's €1.7 million seed round in September 2021.
- Investment Focus Areas: Technology, early-stage companies, innovation.
- Notable Investments: Revolut, Onfido, Thought Machine.
- Volta Ventures
- Details: Volta Ventures is a venture capital firm that invests in early-stage internet and software companies in the Benelux region. They co-led the €1.7 million seed round for Sprinque in September 2021.
- Investment Focus Areas: Internet, software, early-stage companies.
- Notable Investments: Teamleader, SweepBright, Ontoforce.
- Antler
- Details: Antler is a global early-stage venture capital firm that invests in exceptional individuals and teams. They led the €100K pre-seed round for Sprinque in January 2021.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Vamstar, Sampingan, Reebelo.
What's Next for Sprinque?
Sprinque is poised to capitalize on a significant opportunity by financing up to €200 million in transactions annually for European B2B ecommerce merchants. This expansion, particularly in Germany, Spain, and the Netherlands, is driven by the increasing demand for Pay-by-Invoice and Pay-in-Installment options among SMEs.
Future fundraising efforts are likely as Sprinque scales its operations and demonstrates success. The company may attract additional investment to support further expansion and innovation in the B2B payments space.
However, challenges such as managing default risks and navigating economic pressures in Europe could pose hurdles. Competition from other fintech companies and regulatory compliance across multiple jurisdictions will also be critical factors to address.
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